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Palm Reading - Record High Stocks

10 January 2013| Viewed 1304 times

Palm Reading - Record High Stocks

The Malaysian Palm Oil Board’s (MPOB) 10 January data release was bearish as higher than expected production pushed stocks to new highs for a fourth consecutive month. Malaysia’s palm oil production for the month of December was a record high of 1.78 million tonnes—up 19% YOY and slightly above average trade estimates. Fresh fruit bunch (FFB) yields fell more than 6% MOM to 1.85 tonnes per hectare but were the highest level ever reported for the month of December. Stocks rose 28% above year-ago levels to a record high 2.63 million tonnes—4% above average trade estimates.

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