Malaysian palm oil slips to 4,598 ringgit as stocks hit 3.51 million tons
The December contract fell 0.84% by Tuesday midday, to about $1,126 a ton, after Monday's 1% rise. These accounts do not quote a Pakistani shop price.
Malaysia's December palm oil futures fell 39 ringgit, or 0.84%, to 4,598 ringgit ($1,125.86) a ton by Tuesday's midday break.
The same contract rose 1% on Monday to close at 4,638 ringgit ($1,136.49) a ton, after a 1.48% drop in the session before that.
September stockpiles reached 3.51 million metric tons as production jumped 16.48% to a record 2.12 million tons and exports fell 12.13% to 1.12 million tons.
Cargo surveyors estimate exports of Malaysian palm oil products for 1-10 October were 33.5% to 37.7% higher than a month earlier.
StoneX analyst Cheang Kang Wei said stocks can stay high, but growth could slow by November if exports hold above 1.5 million tons and output settles near 2.0 million tons.