A survey indicates that analysts expect Malaysia's palm oil inventories to rise for the fifth consecutive month by the end of August, reaching a seven-month high.
As a major global producer of palm oil, Malaysia's inventory data serves as a key benchmark for pricing the commodity. Market expectations of a fifth straight month of inventory growth—pushing stocks to a seven-month peak—reflect ample supply and a relatively loose supply-demand balance, factors that are expected to weigh on spot prices. Meanwhile, near-term futures contracts face significant upward resistance and downward pressure due to the outlook for high inventory levels.
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