Crude palm oil futures rose more than 2.5% to RM2,736 per tonne on Thursday, moving towards the highest level since early January, after a Reuters poll pointed to a fall in Malaysian inventories in October due to rainy weather and Covid-19 restrictions, after two months of increases. Stockpiles in Malaysia, the world’s second-largest producer, are expected to have declined by 9.8% from the previous month in October to the lowest levels since June 2017. Meantime, exports are expected to rise due to higher demand from India during a festival season.
