off-the-wire

UPDATE 1-Malaysia end-March palm oil stocks fall to 9-month low

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details, table, changes headline) KUALA LUMPUR, April 10 (Reuters) - Malaysia's palm oil inventories at the end of March fell 21.08% from the previous month to 1.67 million tonnes, data by the nation's palm oil board showed on Monday. Stockpiles in March were under the 1.77 million tonnes forecast by analysts and planters in a Reuters poll last week, and were the lowest since June last year, when it was at 1.66 million tonnes.


Crude palm oil output at the world's second largest producer gained 2.77% from February to 1.29 million tonnes, according to the Malaysian Palm Oil Board (MPOB). Exports jumped 31.76% to 1.49 million tonnes as buyers stock up ahead of the Muslim holy month of Ramadan. Following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for March (volumes in tonnes) :


March 2023 March 2023 Feb 2023* March 2022 poll
Output 1,288,354 1,276,000 1,253,664* 1,411,215 Stocks 1,673,044 1,774,594 2,119,848* 1,472,844 Exports 1,486,233 1,394,500 1,127,953* 1,281,739 Imports 39,772 57,000 52,506* 84,871
*indicates revised figures by the Malaysian Palm Oil Board


(Reporting by Rozanna Latiff Editing by Ed Davies, Martin Petty)

Messaging: @rozlatiff on Twitter))
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