Malaysia Palm Oil Inventory Climbs to 9-Month High
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Palm oil stockpiles in Malaysia, the world’s second-largest producer, climbed to the highest level in nine months after output increased and exports dropped.
Inventories of the edible oil, used mostly in cooking, gained 4.9 percent to 1.79 million metric tons in October from a month earlier, the Malaysian Palm Oil Board said in a statement today. Output climbed 4.71 percent to 1.64 million tons, the highest monthly production in a year, and exports dropped 0.6 percent to 1.46 million tons, it said.