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 Business

Malaysia's palm oil stocks fell 0.79 pct

14th August, 2019

KUALA LUMPUR: Malaysia’s total palm oil stocks fell 0.79 per cent in July 2019 to 2.39 million tonnes from 2.41 million tonnes recorded in the previous month, according to the Malaysian Palm Oil Board (MPOB).

The board in its “Performance of the Malaysian Palm Oil Industry for the Month of July 2019” report on Tuesday stated that crude palm oil (CPO) stocks fell 0.72 per cent to 1.34 tonnes from 1.35 tonnes while processed palm oil stock decreased by 0.88 per cent to 1.055 million tonnes from 1.64 tonnes previously.

It also said CPO production rose 15.06 per cent to 1.74 million tonnes versus 1.51 tonnes in June. Palm kernel output was higher by 15.60 per cent at 411,701 tonnes from 355,397 tonnes.

Palm oil exports according to the board, increased by 7.37 per cent to 1.49 million tonnes from 1.38 million tonnes in June, while exports of oleochemical added 13.40 per cent to 288,2651 tonnes against last month’s 254,188 tonnes.

Biodiesel exports in the month under review also jumped 154.40 per cent to 78,920 from 31,022 tonnes, while exports of palm kernel cake inched up 1.67 per cent to 218,501 from 214,918 tonnes.

Meanwhile, palm kernel oil exports shed 2.63 per cent in June 2019 to 83.806 tonnes vis-a-vis 86,066 tonnes in the preceding month. –Bernama

   
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