Palm oil slump hits Malaysia

Palm oil reserves in Malaysia took the steepest drop in number in more than two years this March.

A report by Bloomberg believes inventories declined by 7% to 2.27 million tonnes from February, the steepest monthly drop since January 2011. These details were pulled from estimates from two plantation companies and four analysts. Exports however went up by 2.1% to 1.4 million tonnes.

The decline may help to halt a 33% slump in commodity price however as the popular feedstock looks to get back to a healthier position.