Palm-Oil Stockpiles in Malaysia to Jump Most in 10 Months
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Palm-oil stockpiles in Malaysia, the world’s second-biggest producer, probably climbed the most in 10 months in July as output increased and exports fell, easing supply concerns as a drought cuts U.S. soybean yields.
Stockpiles gained 10 percent to 1.87 million metric tons from 1.7 million tons in June, which was the lowest since April 2011, according to the median in a Bloomberg survey of four analysts and one plantation company. Production rose 9.5 percent to 1.61 million tons, the survey showed. While that’s the highest in eight months, it’s 8 percent below the 1.75 million tons a year earlier. Exports declined 9.8 percent to 1.38 million tons. The Palm Oil Board releases the data on Aug. 10.