Palm oil stocks at lowest level in 10 months

12 Jun 2019 / 19:15 H.

KUALA LUMPUR: Malaysia’s total palm oil stocks fell 10.3% to 2.45 million tonnes in May – the lowest in 10 months – from 2.73 million tonnes recorded in the previous month.

Crude palm oil (CPO) stocks decreased 8.2% to 1.46 million tonnes from 1.59 million tonnes in April.

Processed palm oil’s stockpiles went down by 13.4% to 984,075 tonnes compared with 1.14 million tonnes previously, the Malaysian Palm Oil Board (MPOB) said today in its latest report on the industry’s performance.

The board said CPO production rose 1.3% to 1.67 million tonnes last month from 1.65 million tonnes in April.

Palm kernel output was 2.3% lower at 409,187 tonnes against April’s production of 418,874 tonnes.

The MPOB said palm oil exports rose 3.5% to 1.71 million tonnes in May versus 1.65 million tonnes in the preceding month, while oleochemical exports jumped 12.7% to 290,835 tonnes from 258,097 tonnes previously.

Biodiesel exports in the month under review surged 162.2% to 66,617 tonnes from April’s 25,407 tonnes, while palm kernel oil exports were up 10.7% at 92,108 tonnes versus 83,236 tonnes in the preceding month.

Exports of palm kernel cake soared 53.6% to 238,770 tonnes from 155,494 tonnes previously.

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