KUALA LUMPUR: Malaysia's palm oil stocks fell 7.55% in January from December to 1.58 million metric tons, the lowest level since May 2023, data from the industry regulator showed on Monday.

Crude palm oil production was down 16.8% in January from December to 1.24 million tons, while palm oil exports fell 12.94% to 1.17 million tons, the Malaysian Palm Oil Board (MPOB) said.

A Reuters survey had forecast inventories at 1.65 million tons, with output seen at 1.32 million tons and exports at 1.15 million tons.