MPOB data of March expected to be bullish

Palm Oil (CPO)

Published on

The latest March Supply & Demand report from the Malaysia Palm Oil Board (MPOB) reveals a 10.18% increase in the production of Crude Palm Oil (CPO). Palm Oil (PO) exports also experienced a 28.61% surge compared to February. The increase in production was offset by the surge in exports resulting in a dip of 10.68% in Total Palm Oil (TPO) stocks, reaching 17.14 LMT. The MPOB data suggests a bullish momentum, as both palm oil ending stocks have decreased and exports have surged despite a notable increase in palm oil production. Hence, the MPOB data for March is expected to be bullish.