Palm oil inventory seen at highest level in April

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.

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.