Malaysia November production fell 5.27% to 1.635 million tons from the previous month, much lower than the average market expectation of 1.68% fall, after all the 3 regions recorded poor growth rates confirming yields have passed their peak. With exports rising moderately, end-month stocks stayed largely unchanged at 1.816 million tons or down 0.96% from October but 16.34% higher than the same time last year, reflecting a better present supply situation but sub-par production outlook in December and into the first quarter of 2022.
Meanwhile, exports rose by just 3.30% to 1.468 million tons contrary to cargo surveyors estimate of…
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