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Malaysia's palm oil stocks at lowest level in 10 months

KUALA LUMPUR, June 12 (Bernama) -- Malaysia's total palm oil stocks fell 10.3 per cent to 2.45 million tonnes in May -- the lowest in 10 months -- from 2.73 million tonnes recorded in the previous month.

Crude palm oil (CPO) stocks decreased 8.2 per cent to 1.46 million tonnes from 1.59 million tonnes in April.

Processed palm oil's stockpiles went down by 13.4 per cent to 984,075 tonnes compared with 1.14 million tonnes previously, the Malaysian Palm Oil Board (MPOB) said today in its latest report on the industry's performance.

The board said CPO production rose 1.3 per cent to 1.67 million tonnes last month from 1.65 million tonnes in April.

Palm kernel output was 2.3 per cent lower at 409,187 tonnes against April’s production of 418,874 tonnes.

The MPOB said palm oil exports rose 3.5 per cent to 1.71 million tonnes in May versus 1.65 million tonnes in the preceding month, while oleochemical exports jumped 12.7 per cent to 290,835 tonnes from 258,097 tonnes previously.

Biodiesel exports in the month under review surged 162.2 per cent to 66,617 tonnes from April’s 25,407 tonnes, while palm kernel oil exports were up 10.7 per cent at 92,108 tonnes versus 83,236 tonnes in the preceding month.

Exports of palm kernel cake soared 53.6 per cent to 238,770 tonnes from 155,494 tonnes previously.

-- BERNAMA

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