Malaysia palm oil supply eased a little in October after ending stocks showed a rise of 4.42% to 1.834 million tons from the previous month or 16.55% higher from a year ago—MPOB data showed. The rise in stock was at the high end of expectation after production was bumped up 1.30% to 1.726 million tons reflecting yields remain depressed from the prior month and is likely to extend into November. The report was largely within market expectation retaining a bearish tone which is largely priced-in. Attention is now on November exports and production outlook.
Early indications show…
For more analysis please subscribe or get a free trial info@palmoilanalytics.com