Malaysia’s October palm oil stocks up 7.63pc

Malaysia’s October palm oil stocks up 7.63pc

KUALA LUMPUR,. Malaysia’s total palm oil stocks in October 2018 rose 7.63 per cent to 2.72 million tonnes from 2.52 million tonnes in September.

Crude palm oil (CPO) stocks increased 13.94 per cent to 1.61 million tonnes during the month from 1.41 million tonnes in the preceding month.

Stocks of processed palm oil decreased slightly by 0.4 per cent to 1.1 million tonnes from 1.11 million tonnes previously, said the Malaysian Palm Oil Board (MPOB) in its “Performance of the Malaysian Palm Oil Industry for the Month of October 2018” released here today.

It said CPO production rose 6.01 per cent to 1.96 million tonnes in October from 1.85 million tonnes in the previous month.

Palm kernel output was also up by 4.94 per cent to 485,666 tonnes in October versus September’s production of 462,795 tonnes.

The MPOB said palm oil exports eased 2.97 per cent to 1.57 million tonnes in October from 1.61 million tonnes in September, while exports of oleochemicals rose 14.29 per cent to 280,356 tonnes from 245,310 tonnes previously.

Palm kernel oil exports expanded by 23.02 per cent to 77,385 tonnes from 62,901 tonnes in the preceding month, and exports of palm kernel cake rose 31.93 per cent 225,901 tonnes from 171,234 tonnes before.

In October, biodiesel exports surged 99.22 per cent, or almost two-fold, to 55,857 tonnes against September’s 28,037 tonnes. — Bernama