Malaysia January palm oil end-month stock plummeted to the lowest in 6 months after tumbling by 3.85% to 1.552 million tons from December according to latest MPOB data and coming below expectation of unchanged level. The fall is largely attributed to 31,000 tons of upward revision to 2021 year-end stocks making the base higher to January value. Additionally a larger fall in exports compared a production was responsible for the depressed stocks volume but still emerging 17.20% higher than the same time last year.
Exports fell for the second successive month wiping off…
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