KUALA LUMPUR (Jan 5): Malaysia's palm oil inventories at the end of December likely shrank to their lowest in five months, squeezed by a slump in production, a Reuters survey showed on Wednesday. Stocks at the world's second-largest producer are forecast to fall 4.9% from the previous month to 1.73 million tonnes, according to the median estimate of ten planters, traders and analysts polled by Reuters. Production is pegged to plunge 8.6% to 1.49 million tonnes, the lowest since March, as severe flooding across the country disrupted harvesting activities. Exports are seen declining 4.9% to 1.4 million tonnes, in line with cargo surveyors' estimates. The Malaysian Palm Oil Board will release official data on Jan 10.

Source: The Edge Markets January 05, 2022 08:27 UTC