The latest report released by the Malaysian Palm Oil Board shows that the palm oil inventory in Malaysia was 2.835 million tons at the end of November, a month on month increase of 13.04%, the highest point since March 2019, and far higher than the average analyst expectation of 2.66 million tons.

This indicates a severe oversupply and relatively weak demand, putting significant downward pressure on palm oil spot prices. High inventory levels may suppress buyers' purchasing intentions, intensify market selling sentiment, and lead to a downward pressure on spot prices.

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