Malaysia's palm oil exports fall in September

01 October 2012 11:06  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s palm oil exports fell by 0.67% from the previous month to 1.44m tonnes in September, according to cargo surveyor Intertek Testing Services on Monday.

The weaker-than-expected exports added to concerns about rising palm oil stocks because of a seasonal increase in palm oil production, traders said.

Malaysia’s palm oil stocks were at a 10-month high of 2.1m tonnes in August, according to data from the Malaysian Palm Oil Board.

Reflecting the cautious sentiment of investors, the December crude palm oil (CPO) futures contract on the Bursa Malaysia Derivatives  fell by 3.3% to ringgit (M$) 2,461/tonne ($804/tonne) in late afternoon trade on Monday.

($1 = M$3.06)

By: Yeow Pei Lin

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