Malaysia’s palm oil stocks up 9.3% in September 2019

KUALA LUMPUR: Malaysia’s total palm oil stocks rose 9.27 per cent to 2.448 million tonnes in September 2019 from 2.241 million tonnes recorded in the previous month.

In a statement today, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stocks increased by 4.84 per cent to 1.353 million tonnes from 1.291 million tonnes while processed palm oil stock expanded 15.29 per cent to 1.095 million tonnes from 949.945 tonnes previously.

It also said CPO production rose 1.15 per cent to 1.842 million tonnes from 1.821 million tonnes in August, while palm kernel output was 1.58 per cent higher at 453,654 tonnes from 446,585 tonnes.

Palm oil exports decreased by 18.77 per cent to 1.410 million tonnes from 1.736 million tonnes in August, while exports of oleochemical declined by13.77 per cent to 263,097 tonnes compared to last month’s 305,118 tonnes.

Biodiesel exports in the month under review edged up 16.43 per cent to 54,735 tonnes vis-a-vis 47,012 tonnes, while exports of palm kernel cake rose 17.14 per cent to 168,789 tonnes from 144,090 tonnes.

Meanwhile, palm kernel oil exports decreased by 11.24 per cent in September 2019 to 79,428 tonnes from 89,489 tonnes in the preceding month, it said. -- Bernama