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2026-11-03 13:32:27
[Malaysia's October Palm Oil Inventory May Reach Record High] (1) Surveys show that Malaysia's October palm oil inventory is expected to increase by 6.8% month-on-month to 3.75 million tons, potentially reaching a record high and marking the seventh consecutive month of growth. (2) Production is expected to increase by 3.8% to 2.2 million tons, surpassing the September record of 2.12 million tons and marking the fifth consecutive month of growth; exports are expected to increase by 42.8% to 1.6 million tons, ending two consecutive months of decline and reaching the highest level in nearly a year; imports are expected to be 50,000 tons. (3) Paramalingam Supramaniam, director of brokerage firm Pelindung Bestari, said that with a large backlog of carryover inventory, the surge in exports has failed to reduce end-user inventory; high inventory may persist until at least the first quarter of 2027, when El Niño may disrupt the weather and suppress production. (4) Anilkumar Bagani, head of research at Sunvin Group, said that October production has not yet declined and is expected to reach a record high and surpass the September peak; imports and domestic consumption are basically balanced, with production and exports being the main drivers of the increase in ending inventory. (5) The Malaysian Palm Oil Board (MPOB) plans to release monthly data on November 10; based on the median estimate from the survey, domestic consumption in October was approximately 407,897 tons.
