KUALA LUMPUR: Malaysian palm oil stocks is likely to be at the highest level in April since December 2019, up by 14% month-on-month to 1.97 million tonnes due to stronger crude palm oil (CPO) output.
CGS-CIMB Futures survey revealed that Malaysia’s crude palm oil (CPO) output likely grew by 19% month-on-month (m-o-m) to 1.66 million tonnes in April due to a seasonal recovery in fresh fruit bunch (FFB) yields, recovery of crops from shutdowns in March from the movement control order (MCO) in some areas and low production base in March.