Malaysia Palm Reserves Jump Most in Five Months as Exports Drop

Palm oil stockpiles in Malaysia climbed at the fastest pace in five months as a sharp drop in exports overshadowed weaker production in the world’s second-largest grower.

Inventoriesin May climbed 5.2% from a month earlier to 2.43 million tons, according to data released by the Malaysian Palm Oil Board on Wednesday. The gain was more than double the 2.2% rise forecast in a Bloomberg survey. The buildup reflects a sharp slowdown in overseas shipments as buyers flocked to discounted Indonesian cargoes following Jakarta’s overhaul of its key commodity exports.

Malaysian exports fell about 14% to a one-year ...