Malaysia’s palm oil stocks drop 12.69% in Jan 2020

Malaysia’s palm oil stocks drop 12.69% in Jan 2020

KUALA LUMPUR: Malaysia’s total palm oil stocks eased 12.69% to 1.76 million tonnes in January 2020 from 2.01 million tonnes recorded in December 2019.

In a statement today, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stock decreased by 17.13% to 844,867 tonnes in January 2020 from 1.02 million tonnes previously.

Meanwhile, processed palm oil stock dropped 8.11% to 910,613 tonnes from 991,017 tonnes.

CPO production fell 12.60% to 1.17 million tonnes in January 2020 from 1.33 million tonnes in December 2019, while palm kernel output was 9.79% lower at 285,274 tonnes from 316,240 tonnes.

MPOB said palm oil exports depreciated 13.20% in January 2020 to 1.21 million tonnes from 1.40 million tonnes in December 2019, while exports of oleochemical dropped 5.36% to 245,340 tonnes compared to last month’s 2019’s 259,242 tonnes.

Exports of palm kernel cake fell 10.70% to 183,119 tonnes from 205,071 tonnes.

However, biodiesel exports in the month under review surged 23.85% to 58,524 tonnes from 47,252 tonnes in the preceding month.

Meanwhile, palm kernel oil exports increased by 5.30% in January 2020 to 97,331 tonnes from 92,431 tonnes in the preceding month.

MPOB said CPO imports went down 61.42% to 29,298 tonnes during the month from 75,933 tonnes in December 2019.

Bernama


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