Palm Oil Exports Fall 19% In December

CPO production down, imports up a hefty 224% KUALA LUMPUR: Malaysian palm oil exports declined 19.47% to 1.21 million tonnes in December compared with November’s offtake of 1.5 million tonnes, the Malaysian Palm Oil Board (MPOB) announced yesterday. Production of crude palm oil (CPO) dropped 4.73% to 1.52 million tonnes in December from 1.6 million tonnes registered in November. The board said total palm oil stocks rose 15.72% to 2.24 million tonnes during the month in review, from 1.93 million tonnes recorded a month earlier. Out of the total, stocks of CPO increased 7.13% to 1.2 million tonnes while that of processed palm oil grew 27.47% to 1.04 million tonnes in December. The board added that imports of crude palm oil rose 224.66% to 153,797 tonnes in December from 47,372 tonnes in November and that of processed palm oil added 26.95% to 11,441 tonnes from 9,012 tonnes in November. Imports of palm oil increased 193.06% to 165,237 tonnes in December from 56,384 tonnes in November. Meanwhile, MPOB said exports of palm kernel oil in December declined 4.94% to 104,576 tonnes from 110,009 tonnes in November. Production of palm kernel eased 4.19% to 391,814 tonnes in December from 408,959 tonnes in November while stocks declined 12.94%, for the month under review, against 129,249 tonnes registerd a month earlier. Total palm kernel oil stocks increased 9.46% to 305,912 tonnes in December against 279,483 tonnes in November. – Bernama Source: The Star

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