KUALA LUMPUR (Nikkei Markets) -- Malaysia's October oil palm inventory swelled for the fifth straight month as production rose while exports fell, and the 10-month high stockpile reading dragged shares of palm plantation companies lower.
Stockpile in Malaysia, the world's second-largest palm oil producer after Indonesia, was 2.72 million tons in October, 7.5% higher than the 2.53 million tons surplus in September, according to Malaysian Palm Oil Board. Output rose 5.9% to 1.96 million tons month-on-month from 1.85 million tons.
