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World palm oil stocks could fall by 7% by the end of the season
The USDA in their November report again lowered its estimate of world ending stocks of palm oil in the current season – this time to 9.65 million tonnes (-7% compared to the results of the 2018/19 season).
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In the previous USDA report, the inventory reduction is also expected, but less significant to 9.9 million tonnes. The reason for adjustments to the forecast became Indonesia and Malaysia, estimates for which have been reduced by 100 thousand tons to 2.63 million tonnes and 2.04 million tonnes, respectively. The Outlook change for Indonesia relates to the anticipated growth of exports, "palm" from the country, and Malaysia – due to a slight decline in palm oil production.

The forecast of ending stocks in the EU, by contrast, has been upgraded from 680 thousand tons to 730 tons. Estimates for Thailand and Russia has not changed compared to the October forecast is 450 thousand tons and 372 thousand tons.



Translated by service "Yandex.Translation"
Источники: Зерно Он-Лайн
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