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Malaysia's palm oil stocks are expected to exceed 1.9 million tons by the end of May
According to data from the National Grain and Oil Information Center,kazinoruleteAffected by continuous increases in production, Malaysia's palm oil inventories are expected to climb to more than 1.9 million tons at the end of May, an increase of about 12% from the level of 1.74 million tons at the end of April. From March to April, the country's palm oil production increased steadily, and production is expected to strengthen further with recent moderate rainfall and extended workers 'working hours.
In terms of export markets, due to the obvious advantage in international soybean oil prices, demand for palm oil from major importing countries such as India, the Middle East, and China has decreased. According to data from the Indian Solvent Extraction Association, from February to April, the proportion of palm oil in India's vegetable oil imports has dropped to 42% to 52%, significantly lower than the previous year's more than 60%. Market monitoring showed that in the first 20 days of May, palm oil exports fell month-on-monthkazinorulete8% to 13%.
Based on the above factors, market analysts predict that Malaysia's monthly output of palm oil in May will increase by about 10% month-on-month, while exports are expected to fall by about 10%. These dynamics all point to the accumulation of inventory.
