MPOB had released the official demand and supply data on palm oil after 1230pm CPO Futures market closed. Here is the data being taken from previous post to compare.
MPOB August output is 2.032 million tons;
End month stock is 2.054 million tons; and,
Export is 1.437 million tons.
But, Bloomberg survey is
Aug.2014(Survey) July2014(MPOB) Aug.2013(MPOB)
Output 1.88 1.67 1.74
Stockpiles 1.95 1.68 1.67
Exports 1.38 1.45 1.53
Imports 0.011 0.013 0.0075
MPOB raised the Sarawak output with more than 30% may have contributed the higher total output for the August data! Peninsula Malaysia higher output is also near to 20% that make the figures bigger as compared to Bloomberg survey.
If export is not above 1.4 million tons, the end month stock will even look bad with over 2.1 million tons as all know that the export figures given by SGS and Intertek cargo surveyors was below 1.3 million tons.