Malaysian June palm exports soar, July hits with a thud

Palm exports were unseasonably high for the month of June. They were up 5.19% from May to 1,697,256, according to the Malaysian Palm Oil Board (MPOB) and hitting their highest monthly production on record. Palm oil output fell 2.6%, which helped to underpin pricing, as domestic stocks decreased 4.15% to 2,151,287 metric tons. Also, interesting to note, biodiesel exports saw a dramatic increase in June, moving…