Malaysia's palm oil stocks fall to lowest level in four months

Malaysia's palm oil stocks have reached their lowest level in four months, marking the first decline in four months. According to data from the Malaysian Palm Oil Board (MPOB), in July 2024, Malaysia's export growth outpaced production growth for the first time in four months. This decline is in line with the reduced CPO price benchmark, which is at its lowest level in seven months. According to MPOB, Malaysia's palm oil stocks at the end of July fell by 5.35% from the previous month, reaching 1.73 million metric tonnes, the lowest since March. Notwithstanding the aforementioned decline in stocks, crude palm oil production increased by 13.97% to 1.84 million tonnes, while palm oil exports rose by 39.92% to 1.69 million tonnes. While this reduction in inventories is a positive indicator for palm oil prices, a significant price increase is unlikely due to expectations of strong production in August, alongside lower exports.

https://internasional.kontan.co.id/news/stok-minyak-sawit-malaysia-turun-ke-level-terendah-dalam-empat-bulan

Adani Group shares plummet after SEBI chairman's involvement in scandal

Following allegations made by Hindenburg Research, shares in Adani Group companies have experienced a significant decline in value. The allegations claim that Madhabi Puri Buch, Chairman of India's Securities and Exchange Board, held investments in an offshore fund used by the Adani Group for embezzlement. The Adani Group, headed by billionaire Gautam Adani, saw a decline in share value across the board. Adani Enterprises, the flagship company, experienced a drop of nearly 5%, while other group companies, including Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar, and Adani Energy Solutions, saw falls between 3% and 8%. Citing whistleblower documents, Hindenburg alleged that Buch and her spouse held shares in the offshore fund, which had received significant investment from associates of Vinod Adani, Gautam Adani's brother. In response, Buch stated that all disclosure requirements had been met and that the investments were made in a personal capacity in 2015, prior to joining SEBI. The Adani Group has denied the allegations, asserting that its offshore holding structure is fully transparent. These accusations have raised concerns about market confidence and potential ramifications for retail investors.
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