Palm oil stock likely grew 2.8% at end-March

Positive note: Fresh oil palm fruit bunches are seen harvested from an estate in Peninsular Malaysia. CGS-CIMB Research says policy changes by Indonesia will lead to higher palm oil exports.

PETALING JAYA: Malaysia’s palm oil inventory grew 2.8% month-on-month (m-o-m) to 1.56 million tonnes at end-March due to higher output, estimates CGS-CIMB Research.

The research house said the likely m-o-m rise in stock level was a divergent compared to historical trends in Malaysia’s March palm oil stock movements.