Palm Oil Hits 4-Weeks Low

Palm Oil: decreased to a 4-week low of 6095 MYR/T, amid rising inventories and weak export demand from Malaysia.

The latest Malaysian Palm Oil Board report showed that palm oil inventories jumped to a five-month peak of 1.64 million tonnes.

Production grew 3.6% from March to 1.46 million tonnes, the highest since November, while exports tumbled 17.7% to 1.05 million tonnes.

Still, shipments from the world’s second-largest producer are expected to skyrocket in May after top producer Indonesia banned exports last month to stabilize domestic prices.