KUALA LUMPUR, Nov 10 (Reuters) - Malaysia’s palm oil inventories in October tumbled to their lowest since June 2017, contracting 8.6% from the month before to 1.57 million tonnes, according to industry regulator the Malaysian Palm Oil Board (MPOB) on Tuesday.
October crude palm oil production fell 7.8% from September to 1.72 million tonnes.
Palm oil exports rose 3.8% on month to 1.67 million tonnes, MPOB said.
A Reuters poll had estimated October inventories to fall 9.8% to 1.56 million tonnes. Production had been expected to fall 5.6%, while exports were seen rising 5.5%.
Reporting by Mei Mei Chu; Editing by Jacqueline Wong
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