May palm oil inventory seen to decline

palm oil factory

PETALING JAYA: Malaysia’s palm oil inventory probably fell by 6.6% month-on-month (m-o-m) and 2.2% year-on-year (y-o-y) to 1.52 million tonnes at the end of May 2022, says CGS-CIMB Research, who believes the decline could be due to lower output despite higher exports.

CGS-CIMB Research house said the likely m-o-m decline in stock levels is greater compared to the historical trends in Malaysia’s palm oil stock movements for the month of May which stood at an average decline of 2% m-o-m over the past decade.