InfoSAWIT, KUALA LUMPUR – Palm oil stocks in Malaysia could be increasing by the late of March 2022 and the imports decreased to balance the production, as Reuters’ survey showed, Monday.
Palm oil stocks in Malaysia could be increasing 0,51% compared to February to be 1,53 million tons, or increased for the first time in the past five months, according to 10 planters’ medium prediction and Reuters’ survey.
The stocks got higher than those in the same period which reached 1,45 million tons. The decreasing output since October 2021 that reached 1,32 million tons could be increasing 16,4% to its highest numbers in the past three months.
William Simadiputra, an analysis at DBS Vickers Security said, the production could be recovered after the production gets smaller than the prediction for the past two months.
The exports increased 6,3% to be 1,17 million tons. This is the same with the surveyor cargo’s prediction that increased the delivery to main buyers, such as, India and China.
The imports would be decreasing about 22% to be 117.000 tons, as quoted from The Edge Markets. (T2)