by Theleaders-Online | March 10, 2020 6:01 am
KUALA LUMPUR: Malaysia’s total palm oil stocks fell 4.2% to 1.68 million tonnes in February 2020 from 1.76 million tonnes in January 2020.
In a statement today, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stock dropped by 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 2020 from 910,484 tonnes in the previous month.
CPO production, however rose by 9.99% to 1.29 million tonnes from 1.17 million tonnes in January 2020.
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 2020 to 1.08 million tonnes from 1.21 million tonnes in January 2020.
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 2020 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 2020.
Total palm oil imports, however, dropped 21.52% to 66,735 tonnes from 85,033 tonnes previously, it added.
Bernama
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