(MENAFN) Malaysia's February palm oil stockpiles have increased 1.34 percent month-on-month to 3.05 million tons.
According to Malaysian Palm Oil Board data, the palm oil supply of last month was still marginally higher than that of January despite the palm oil production fell 11.1 percent month-on-month to 1.54 million tons.
Meanwhile, palm oil exports in February remained lackluster, decreasing 21.38 percent month-on-month to 1.32 million tons.
The rising stocks and weak exports data are expected to continue to drag palm oil prices, which reached USD471 per ton as of last Friday.
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