Malaysia’s palm oil stocks fall 4.2% in February

KUALA LUMPUR (March 10): Malaysia’s total palm oil stocks fell 4.2% to 1.68 million tonnes in February from 1.76 million tonnes in January.

In a statement today, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stock dropped 0.23% to 842,965 tonnes from 844,930 tonnes previously.

Meanwhile, processed palm oil stock declined 7.89% to 838,634 tonnes in February from 910,484 tonnes in the previous month.

CPO production, however, rose 9.99% to 1.29 million tonnes from 1.17 million tonnes in January.

Palm kernel output was 15.65% higher at 331,808 tonnes from 286,909 tonnes.

MPOB said palm oil exports depreciated 10.81% in February to 1.08 million tonnes from 1.21 million tonnes in January.

Exports of palm kernel cake fell 35.56% to 117,994 tonnes from 183,119 tonnes while biodiesel exports in the month under review was 62.77% lower at 21,790 tonnes from 58,524 tonnes.

Palm kernel oil exports declined 24.08% in February to 73,898 tonnes from 97,331 tonnes in the preceding month.

In contrast, exports of oleochemicals increased 2.91% to 252,768 tonnes from the previous month’s 245,619 tonnes.

MPOB said CPO imports went up 27.49% to 37,351 tones during the month from 29,298 tonnes in January.

Total palm oil imports, however, dropped 21.52% to 66,735 tonnes from 85,033 tonnes previously, it added. 

Source : The Edge Markets