Palm oil stocks hit 11-month high

Fitch expects the price of CPO to weaken to around US$750 per tonne in the final quarter of 2023.

KUALA LUMPUR: Palm oil stockpiles hit an 11-month high at the end of September, according to data from the Malaysian Palm Oil Board (MPOB), raising concerns about demand for the commodity.

Inventories rose 9.6% from August to 2.31 million tonnes, the fifth consecutive month of increases at the world’s second-largest palm oil producer.