Malaysia’s palm oil stocks were better than expected in end-May as the monthly fall in production was lower than was projected, data from the nation’s official palm oil body showed June 10. Crude palm oil production fell to 1.46 million mt in May, down 0.07% from April according to the Malaysian Palm Oil Board, or .
Soybean oil prices in South America have lost nearly 9% since the April 28 record high, as sluggish demand from destinations and increasing supplies from Argentina and Brazil impacted market sentiment. Both Argentinian FOB Up River and Brazilian FOB Paranagua front-month outright prices were assessed at $1,745.40/mt on May 23, down 8.6% and 8.3%, respectively .
Malaysia, the second largest producer and exporter of palm oil, reported better-than-expected month-end stocks in February as local consumption and exports dipped, the country’s official industry body Malaysian Palm Oil Board, or MPOB, said March 10. Palm oil ending stocks fell to 1.52 million mt at the end of February, down 2.1% from the end-January .
Palm oil futures prices set a new all-time high in Malaysia on Sept. 30 as news of supply concerns and higher exports coincided with Chinese buyers rushing to book palm oil shipments to make up for a potential shortage in soybean oil ahead of China’s week-long Golden Week national holiday. Many Chinese soybean crushers had .
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