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Malaysia's Palm Oil stockpiles at the end of January are forecast to fall by 4.7 percent from the previous month's record high to 3.07 million tonnes, as production eases and exports increase, according to a Reuter’s survey. Falling inventories will add to the recovery in benchmark Palm Oil prices since last November when they fell to their lowest in three years. This would be the first month of inventory declines after seven gains. In December, stocks rose to 3.22 million tons, a record high. Palm Oil production typically falls during the first quarter of the year. Additionally, the poll also showed Malaysia's January Palm exports rising 12.4 percent from December to 1.56 million tons on stronger demand from Europe. The better than expected recovery in exports was due to stronger demand from European Union countries.

 

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