KUALA LUMPUR, July 10 — Malaysia's palm oil inventories at the end of June fell 6.33 per cent from the previous month, at 1.90 million tonnes, industry regulator the Malaysian Palm Oil Board (MPOB) said on Friday.
June crude palm oil production grew 14.2 per cent from May to 1.89 million tonnes.
Palm oil exports surged 24.9 per cent from May to 1.71 million tonnes, according to MPOB data.
A Reuters poll had pegged June inventories to fall 5 per cent from the month before to 1.94 million tonnes. Production was forecast to grow 8 per cent.
Exports were expected to surge 20.6 per cent, hitting a 10-month high, as key buyers restock on the edible oil amid the easing of coronavirus restrictions.
— Reuters
