July palm oil output seen lower at 1.5m tonnes

Based on the median of exports and closing stocks estimate, Malaysia's domestic consumption July is estimated to be 248,397 tonnes.

KUALA LUMPUR: Malaysia's palm oil stockpile at the end of July likely expanded to its highest in 10 months, as a drop in exports offset a decline in production, a Reuters survey showed on Thursday.

Inventories in the world's second-largest palm oil producer are seen rising for a fifth month, up 1.6% to 1.64 million tonnes from June, according to the median estimate of nine planters, traders and analysts polled by Reuters.