The monthly data released by the Malaysian Palm Oil Board (MPOB) shows a decline in palm oil inventories at the end of July, exceeding market expectations, which may provide support for palm oil futures prices.

MPOB data shows that the estimated palm oil inventory in Malaysia at the end of July was 1.733 million tons, a decrease of 5.35% compared to the previous month. Before the report was released, analysts expected palm oil inventories to be 1.8 million tons, a decrease of 1.2% compared to the previous period.

Shipping investigation agency AmSpec Agri stated that Malaysia's palm oil exports decreased by 17.7% month on month from August 1st to 10th. ITS data shows that palm oil exports from August 1st to 10th decreased by 12.2% month on month.

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