Palm oil stockpile likely to remain low in near term

Analysts noted that the palm oil stockpile has remained on the downtrend, falling by 21.1% month-on-month to 1.67 million tonnes in March 2023, due mainly to higher exports.

PETALING JAYA: The outlook for crude palm oil (CPO) has brightened over the past month with a pick up in exports following poorer Latin American soyabean harvest.

Analysts noted that the palm oil stockpile has remained on the downtrend, falling by 21.1% month-on-month to 1.67 million tonnes in March 2023, due mainly to higher exports, which grew close to one-third.