MPOB focus will be on the extent of stock rise after 5 straight months of decline | BBG and RTRS poll Canva

Focus will be on the extent of stock rise after 5 straight months of decline. Bloomberg was the first to come out with poll estimates showing April  stocks rising by a sharp 12.90% to 1.66 million tons from the previous month to the highest in 5 months or 7.40% higher from the same time last year. Production is seen rising 5% to 1.48 million tons extending from the strong growth of 24% reported in March. Exports are widely predicted to fall with Bloomberg pegging a fall of 13% to 1.10 million tons. Imports are predicted to be lower at 80,000 tons from 85,000 tons in March at the back of better production and domestic consumption is calculated to range from 250,000 to 320,000 tons compared to 276,135 tons reported in March. CPO exports is expected to see 4-5% rise from March but olein shipment is seen declining by 40% – ITS data. Actual data is due on Tuesday 10 May from MPOB at mid-day SG/MY time. Bloomberg and Reuters supply and demand estimate is published below in table format.