October Palm Oil Stocks Up 3.66pc

October Palm Oil Stocks Up 3.66pc

KUALA LUMPUR: Malaysia’s palm oil stocks rose by 3.66 per cent to 2.17 million tonnes in October 2014 from 2.09 million tonnes the previous month.

In a statement today, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stocks increased 1.40 per cent to 1.19 million tonnes in October.

Processed palm oil stocks grow 6.57 per cent to 971,869 tonnes.

Palm kernel stocks rose 1.31 per cent to 200,395 tonnes while crude palm kernel oil increased 1.22 per cent to 203,459 tonnes.

Processed palm kernel oil stocks climbed 3.27 per cent to 149,438 tonnes and palm kernel cake stocks stretched 2.56 per cent to 372,049.

MPOB said the CPO production in October declined 0.21 per cent to 1.892 million tonnes from 1.896 million tonnes the previous month.

Palm kernel production was down 2.72 per cent at 470,022 tonnes while crude palm kernel oil output was 3.34 per cent lower at 217,843 tonnes and palm kernel cake production dropped 3.60 per cent to 241,171 tonnes.

Palm oil exports fell 1.39 per cent to 1.60 million tonnes in October 2014 compared to the previous month while palm kernel oil exports rose 17.03 per cent to 122,687 tonnes.

It said palm kernel cake exports advanced 6.44 per cent to 242,822 tonnes while oleochemicals exports increased 15.21 per cent to 261,493 tonnes.

Biodiesel exports surged 994.92 per cent to 1,642 tonnes.

CPO imports in October jumped 2,299.08 per cent to 64,048 tonnes and processed palm oil imports reduced 47.17 per cent to 18,923 tonnes.

For October, the average price of fresh fruit bunches moved up 6.01 per cent to RM22.39 per tonne compared with the previous month.– Bernama

Source : New Straits Times

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