Exports dropped by 5.24pc on the year in June after increasing by 12pc in May, GAPKI data showed.

Palm oil inventories reached 3.55 million tonnes at end-June, a rise from 3.53 million tonnes a month earlier.

Meanwhile, domestic biodiesel consumption in January-June 2019 reached 3.29 million tonnes or surged by 144pc compared with the corresponding period in 2018.