MPOB March preview | MPOB Preview data Canva


















Stronger demand to absorb sharp rise in production but April export seen lower. A stronger rise in export and domestic demand will just marginally offset the strong gains in production, leaving stocks about unchanged. Based on the average polls numbers, demand is seen rising 8.91% compared to supply increase of 4.48% resulting in stocks inching up 0.60% to 1.527 million tons or 5.75% higher than the same time last year. Malaysia March production was pegged at 18.99% according to MPOA in data released yesterday, surpassing the high end of estimate of 16.40-17.90%, promptly triggering a large sell-off in the futures market. March will see the see the first meaningful rise in production in 6  months with all regions reporting solid increases from a low base in February. Exports will also see the best rise in 6 months, mainly on large shipment of RBD palm olein to the Middle East to meet Ramadan month demand but casting doubt on the sustainability of rise into April. CPKO exports will be lower than the usual monthly volume of 20,000 tons for the third month in a row. Actual data is due on Monday 11 April at mid-day SG/MY time.