MPOB's April Report: Palm Oil Production Surges, Exports Drop, Stocks Rise

Palm Oil (CPO)

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The latest April Supply & Demand report from the Malaysia Palm Oil Board (MPOB) reveals a 7.86% increase in the production of Crude Palm Oil (CPO). Palm Oil (PO) exports experienced a 6.97% decline compared to March. The increase in production coupled with the decline in exports resulted in an up-move of 1.85% in Total Palm Oil (TPO) stocks, reaching 17.44 LMT. The MPOB data suggests a bearish momentum, as both palm oil ending stocks have increased and exports have declined along with a notable increase in palm oil production. Hence, the MPOB data for April is expected to be bearish.