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Malaysia’s palm oil stocks up 18.26% in April

12 May 2020 / 16:50 H.

KUALA LUMPUR: Malaysia’s total palm oil stocks rose 18.26 per cent month-on-month (m-o-m) to 2.05 million tonnes in April 2020 from 1.73 million tonnes in March 2020.

The Malaysian Palm Oil Board (MPOB) in a statement today said crude palm oil (CPO) stock also jumped 26.03 per cent m-o-m in April to 1.05 million tonnes from 829,649 tonnes previously.

Meanwhile, processed palm oil stock was up by 11.09 per cent m-o-m to 999,744 tonnes during the month from 899,931 tonnes earlier, while CPO production increased by 18.28 per cent m-o-m to 1.65 million tonnes from 1.40 million tonnes.

Palm kernel output was 17.53 per cent m-o-m higher at 412,597 tonnes from 351,058 tonnes.

The MPOB said palm oil exports strengthened 4.38 per cent m-o-m in April 2020 to 1.24 million tonnes from 1.18 million tonnes.

However, exports of palm kernel cake declined 24.80 per cent m-o-m to 167,510 tonnes from 222,753 tonnes, while biodiesel exports for the month under review fell 90.59 per cent m-o-m to 6,427 tonnes from 68,324 tonnes.

Palm kernel oil exports firmed 8.57 per cent m-o-m in April 2020 to 84,118 tonnes and exports of oleochemical also increased 3.90 per cent m-o-m to 271,275 tonnes.

The MPOB said CPO imports, however, went down 73.17 per cent to 7,416 tonnes during the month from 27,637 tonnes in March 2020.

Meanwhile, total palm oil imports slipped 28.55 per cent to 56,596 tonnes from 79,216 tonnes previously, it added. -Bernama

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