Malaysia’s palm oil inventories could have fallen 12% month-on-month (m-o-m) to 1.59 million tonnes in May 2016, its lowest level since February 2011, according to CIMB Research.
“Findings from a survey of 25 Malaysian planters by the CIMB Futures team revealed that Malaysian crude palm oil (CPO) output grew by 1.1% m-o-m to 1.3 million tonnes in May 16. Palm oil exports grew by approximately 13% m-o-m, based on export statistics released by SGS and ITS.
“Overall, we estimate that Malaysian palm oil inventories could have fallen 12% m-o-m to 1.59 million tonnes as at end-May 16, its lowest level since February 2011,” CIMB said.
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“Findings from a survey of 25 Malaysian planters by the CIMB Futures team revealed that Malaysian crude palm oil (CPO) output grew by 1.1% m-o-m to 1.3 million tonnes in May 16. Palm oil exports grew by approximately 13% m-o-m, based on export statistics released by SGS and ITS.
“Overall, we estimate that Malaysian palm oil inventories could have fallen 12% m-o-m to 1.59 million tonnes as at end-May 16, its lowest level since February 2011,” CIMB said.
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