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Malaysian palm oil data for February

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Malaysian palm oil output showed a sharp decline in February, albeit for a period when output is seasonally weak.


But exports dropped too, minimising the impact on stocks, which actually far exceeded market forecasts, with the larger-than-expected inventories seen as an indicator of disappointing domestic use too.


Below the data, comparison by month and by year, and with market expectations gleaned by a Reuters poll.



Malaysian palm oil dynamics, February
Figure (tonnes) Month-on-month change Year-on-year change Difference from forecast
Production 1,342,805 -15.4% +6.7% -52,795 tonnes
Exports 1,312,295 -13.3% +18.5% -21,907 tonnes
Stocks 2,477,853 -2.8% +69.8% +106,162 tonnes
Source: Malaysia Palm Oil Board






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