KUALA LUMPUR : Malaysia's end-February palm oil inventories tumbled to the lowest in six months as production and imports plummeted, data issued by the nation's palm oil board showed on Friday.
Stockpiles fell 6.56 per cent from January to 2.12 million tonnes, the lowest since August, according to the Malaysian Palm Oil Board . Hammered by seasonal flooding, crude palm oil production shrank to a one-year low. Output in the world's second-largest producer fell 9.35 per cent to 1.25 million tonnes, down for a fourth month.Inventories could fall below 2 million tonnes by the end of April, as exports climb after Indonesia restricted overseas sales, Ahmad Parveez Ghulam Kadir, director general of MPOB told Reuters this week.
Following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for February [PALM/POLL]:Stocks 2,119,509 2,206,039 2,268,198 1,518,238*indicates revised figures by the Malaysian Palm Oil Board
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Malaysia end-Feb palm oil stocks drop 6.6% to 2.12 million T - MPOBKUALA LUMPUR : Malaysia's February palm oil end-stocks fell 6.56 per cent from the previous month to 2.12 million tonnes, data from industry regulator the Malaysian Palm Oil Board (MPOB) showed on Friday.Crude palm oil production declined 9.35 per cent from January to 1.25 million tonnes, while palm oil e
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China Feb passenger cars sales up 10.4% on year - CPCASHANGHAI/BEIJING :China's passenger vehicle sales totalled 1.42 million units in February, up 10.4 per cent from a low base in the same period in 2022 when a week-long Lunar New Year holiday reduced business activities, industry association data showed on Wednesday.The car sales in the first two months fell 1
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China's Jan-Feb passenger cars sales down 20% - CPCASHANGHAI/BEIJING :China's passenger vehicle sales fell 20 per cent in the first two months of this year, industry data showed on Wednesday, underscoring weak demand in the world's biggest auto market even as some car manufacturers offer reduced prices to revive demand.Sales in February, 1.42 million units, we
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Thai consumer confidence at 3-year high in Feb as tourism reboundsBANGKOK : Thai consumer confidence rose for a ninth straight month in February to reach a three-year high, boosted by a recovery in the crucial tourism sector, government stimulus measures and a weak baht a survey showed on Thursday.The consumer index of the University of the Thai Chamber of Commerce rose
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Vietnam Jan-Feb exports down 10% amid weak global demandHANOI : Exports from Vietnam, a regional manufacturing hub, fell 10 per cent in the first two months of this year from a year earlier, as weakening global demand continues to bite into its shipments, government data showed on Thursday. Exports in the January-February period fell to $49.64 billion, the Cus Only?! It must at least 20-25% looking at what is happening here! Your source must be the government 😂
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China's Feb new yuan loans seen falling from record high: Reuters PollBEIJING : China's new yuan loans are expected to fall in February from a record high in January partly due to seasonal factors, a Reuters poll showed, as the central bank keeps policy accommodative to support the slowing economy.Chinese banks are estimated to have issued 1.50 trillion yuan ($215 billion)
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »