Indian Share Market Tips- Malaysia Nov Palm Oil stocks rise 10.5% to over 3MT
Malaysia's Palm Oil stockpiles at the end of November rose above 3 million tonnes as a steep decline in exports boosted reserves, according to official data.
Palm oil stocks last month rose 10.5% from October to 3.007 million tonnes, industry regulator Malaysian Palm Oil Board (MPOB) said.
The MPOB data showed Palm Oil production in November slid 6.09% from the previous month to 1.85 million tonnes, while exports fell 12.9% to 1.375 million tonnes.
Demand for Palm Oil generally tapers down in the last quarter of the year, as colder temperatures in key markets such as China and Europe causes Palm Oil to solidify, which leads buyers to seek alternative oils.
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