Malaysia’s Palm Oil Stockpiles Rise 12.63 Pct Month on Month in May

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Malaysia, the world’s second largest palm oil producer, saw its palm oil stock rise 12.63 percent from the previous month to 1.69 million tons in May, official data showed on Monday.

According to the Malaysian Palm Oil Board, Malaysia’s crude palm oil in the month also surged 26.8 percent from a month ago to 1.52 million tons.

Palm oil exports from Malaysia, however, slipped 0.78 percent to 1.08 million tons in May from April.

Palm oil imports in the country, on the other hand, soared 87.69 percent month on month to 80,926 tons.