RECORD HIGH DOMESTIC CONSUMPTION & LOWER THAN EXPECTED PRODUCTION GAIN KEEPS THE LID ON STOCK RISE—MPOB | Poll prod May 1

 

A massive increase in domestic consumption and a lower than expected rise in output in May helped to suppress the surge in end-month stocks—MPOB May data showed. Domestic usage of edible oils doubled to 372,039 tons to reach a record high in May compared to the previous month helping to cap the rise in stocks by 1.49% to 1.568 million tons. Market expectation was for stocks to rise by 5—6.30%. Higher spending on groceries during the…