Stock levels fall. As expected, Malaysia’s CPO production continued to fall in Feb 10 by 12.4% mom and 2.6% yoy. Exports also fell 11.6% mom but rose 2.7% yoy, resulting in lower closing CPO stock levels (-10.9% mom) to 1.78m tonnes. Stock/usage ratio fell back to 9.5% (from 9.8% in Jan 10), nearing the 7-year average of 9.1% and is expected to moderate further going forward.
Plantation : Neutral Price Forecasts Amid Positive Monthly Plantation Statistics - 11/03/2010
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