Malaysian palm oil futures were trading above MYR 3,400 per tonne after falling below MYR 3,300 last week, amid signs of strong demand from China and India. China reportedly increased its purchases last month, amid efforts to replenish its stockpiles ahead of the Dragon Boat festival later in the month. Meantime, early cargo surveyors showed that exports of Malaysian palm oil products fell by 16.7%-17.6% from the previous month in the first ten days of June. Regarding data from the Malaysian Palm Oil Board, inventories were at 1.67 million tonnes at the end of May, 12.6% higher than the previous month to mark the first buildup in four months.
