Palm | Kelapa Sawit

KUALA LUMPUR, Oct 4 (Reuters) - Malaysian palm oil stocks now stand at around 1.7 million tonnes, Commodities Minister Bernard Dompok said on Monday.
That represents a 1.3 percent drop from August levels probably due in part to strong exports outpacing a seasonal rise in output in the world's No. 2 producer of the vegetable oil.
Industry regulator Malaysian Palm Oil Board will next week report stock figures, which often drive benchmark prices, for September. In August, inventories jumped 22.6 percent to 1.72 million tonnes -- a six month high.
Dompok said 2010 output was "not too far off" the official target of 17.8 million tonnes. The government had at the start of this year forecast production to be above 18 million tonnes.