Malaysian palm oil futures rose to around MYR 3,910 per tonne, approaching a nearly 4-month high of 4,000 hit on July 3rd, amid a surge in July exports and a slower rise in June inventories. Exports from Malaysia during July 1-10 rose between 18.7% and 26.1%, according to cargo surveyors Amspec Agri and Intertek Testing Services. Meantime, palm oil inventories at the end of June grew by 1.9% from the prior month to their highest level in four months of 1.72 million metric tons, much smaller than industry forecasts of a 10.5% climb. Palm oil production fell by 4.6% to 1.45 million tons, while exports exceeded estimates with an 8.6% increase to 1.17 million tons.
