February palm oil stocks rise to 3.05m tonnes

11 Mar 2019 / 19:41 H.

KUALA LUMPUR: Malaysia’s total palm oil stocks in February increased 1.34% to 3.05 million tonnes from 3.01 million tonnes in January.

Crude palm oil (CPO) stocks rose 2.29% to 1.92 million tonnes during the month under review from 1.87 million tonnes in the preceding month.

Stocks of processed palm oil, however, went down 0.24% to 1.129 million tonnes from 1.131 million tonnes previously, said the Malaysian Palm Oil Board (MPOB) in its “Performance of the Malaysian Palm Oil Industry for the Month of February 2019 ” released today.

It said CPO production fell 11.1% to 1.54 million tonnes in February from 1.74 million tonnes in the previous month.

Palm kernel output was also 11.16% lower at 395,697 tonnes in February versus January’s production of 445,427 tonnes.

The MPOB said palm oil exports slipped 21.38% to 1.32 million tonnes in February from 1.68 million tonnes in January, while exports of oleochemical went up 15.8% to 273,964 tonnes from 236,589 tonnes.

Biodiesel exports in February declined 16.49% to 36,986 tonnes against January’s 44, 287 tonnes, while exports of palm kernel cake shed 15.62% to 190,727 tonnes from 226,022 tonnes.

In February, palm kernel oil exports, expanded by 15.96% to 91, 234 tonnes from 78,674 tonnes in the preceding month.

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