Malaysia's end-Sept palm oil stockpiles rise while exports drop

Kuala Lumpur

MALAYSIA'S palm oil inventories at the end of September edged up from a near six-year low reached in the previous month, as exports to top palm consumer countries weakened and production rose at a lower than average rate.

Rising stockpiles could weigh on benchmark palm oil prices, which have fallen about 6 per cent since climbing to a five-month high on Sept 26 on forecasts of increasing output. Palm is up 0.3 per cent at 2,569 ringgit (S$851) per tonne at the midday break on Monday.