Palm oil prices turning to Positive side

Malaysian palm oil futures climbed more than 1% on Tuesday, recovering from two previous sessions of sharp declines, along with this MPOB data declared Ma Palm oil stocks id down by 10.34% but production is slightly increased by 1.34% and export increases by 3.51% which has significantly kept inventory in the lower side. MOPB data of May more or same with market expectation as Reuters survey showed Malaysia’s palm oil stocks likely hit a 10-month low by end-May, falling 9.7% from April to 2.46 million tonnes. Meanwhile, production is seen easing 2% to 1.61 million tonnes from April, while exports likely rose 3.3% on-month to 1.71 million tonnes. so, market expectation and the fundamental trend are the same which may keep prices on the upside for coming days.