Worries persist over high CPO inventory in Malaysia

Analysts continue to worry over high palm oil inventory which continued to swell by eight per cent month-on-month to 2.72 million tonnes in October. The higher inventory is mainly caused by higher production — up by six per cent m-o-m to 1.96 million tonnes — and lower exports which has gone down by three per cent m-o-m to 1.57 million tonnes. An analyst at Affin Hwang Investment Bank Bhd (AffinHwang Capital) said the rise in October’s CPO production was the highest monthly CPO production over the past 12 months as production improved in Peninsular Malaysia and Sabah, rising by 5.7 per cent and 15.1 per cent m-o-m respectively to 1.01 million metric tonnes and 0.5 million metric tonnes

Ringgit hit by palm oil slump

Palm oil futures are sliding to a three-year low, adding to the pain for the ringgit that's been suffering since the government revealed a wider fiscal deficit. Palm oil is being hit by concerns demand isn't expanding fast enough to absorb mounting stockpiles in the world’s two biggest growers.

CPO prices drop further

As crude palm oil (CPO) prices continue to slide, pressured by rising stockpiles and production as well as slowing exports, analysts warn that plantation players will be hit going into the fourth quarter. The CPO price for November’s delivery has fallen RM15 to RM1,865 per tonne and the benchmark futures contract closed down RM6 at RM2,034 per tonne yesterday – its lowest since September 2015.

Malaysia's Nov 1-10 palm oil exports rise 4.5pct - ITS

Exports of Malaysian palm oil products for Nov 1-10 rose 4.5% to 310,592 tonnes, from 297,265 tonnes shipped during Oct 1 - 10, cargo surveyor Intertek Testing Services said on Saturday.

Malaysia's October palm oil inventory up 7.63pct on month at 2.72m tonnes

The Malaysian Palm Oil Board (MPOB) said today that the nation's total palm oil stock increased 7.63% to 2.72 million tonnes in October 2018, from 2.53 million tonnes in the preceding month, as crude palm oil (CPO) production rose.
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