Palm oil reserves seen rising to four-year high

Inventories rose about 1.2% in November from a month earlier to 2.48 million tonnes. — Bloomberg

PETALING JAYA: Palm oil stockpiles in Malaysia likely expanded for a seventh straight month to the highest level since April 2019 as production in the world’s second-biggest grower outstripped its exports of the tropical oil.

Inventories rose about 1.2% in November from a month earlier to 2.48 million tonnes, according to the median of 11 estimates in a Bloomberg survey of traders, analysts and plantation executives.