Palm oil stocks in Malaysia, the world’s second largest producer of the commodity, rose for a third month in September to breach the 2-million-tonne mark for the first time in well over a year. Malaysian end-September stockpiles rose 4% to hit their highest since February 2016 at 2.02 million tones, largely driven by weaker-than-forecast export-growth, data from industry regulator the Malaysian Palm Oil Board (MPOB) showed. Crude Palm Oil (CPO) stocks rose by 0.96 per cent to 1.06 million tons during the month under review from 1.05 tones registered a month earlier. Stocks of processed Palm Oil increased 7.58 per cent to 952,550 tons from 885,430 tones, it said. On production, MPOB said, CPO output declined 1.69 per cent to 1.77 million tons in September from 1.81 million tones recorded in the previous month. Palm kernel output increased 1.28 per cent to 442,068 tons in September versus Augusta’s production of 447,786 tones, it said. The MPOB data showed that exports came in weaker than expected, rising just 1.8 percent to 1.52 million tones on-month.
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