KUALA LUMPUR: Malaysia's March palm oil inventories rose 1.67% from February as an unexpected jump in production exceeded an increase in exports, official data showed on Friday, but demand is set to slow in the face of global coronavirus-led lockdowns.
End-March stockpiles in the world's second largest producer grew to 1.73 million tonnes after five months of decline, according to data by industry regulator the Malaysian Palm Oil Board (MPOB).
March production took the market by surprise with a 8.4% increase from February to 1.4 million tonnes, MPOB data showed.
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