Malaysia’s palm oil stocks rose 1.26pc to 2.214 million tonnes

Malaysia’s palm oil stocks rose 1.26pc to 2.214 million tonnes

KUALA LUMPUR,. Malaysia’s total palm oil stocks in July 2018 rose 1.26 per cent to 2.214 million tonnes from 2.187 million tonnes in June.

Crude palm oil (CPO) stocks also increased slightly by 0.80 per cent to 1.224 million tonnes during the month from 1.215 million tonnes in the preceding month.

Stocks of processed palm oil grew 1.84 per cent to 989,642 tonnes from 971,796 tonnes previously, said the Malaysian Palm Oil Board (MPOB) in its “Performance of the Malaysian Palm Oil Industry for the Month of July 2018” released here today.

It said CPO production rose 12.79 per cent to 1.503 million tonnes in July from 1.332 million tonnes in the previous month.

Palm kernel output was also up by 14.41 per cent to 361,220 tonnes in July versus June’s production of 315,731 tonnes.

The MPOB said palm oil export increased 6.75 per cent to 1.205 million tonnes in July from 1.129 million tonnes in June, while export of oleochemical rose 14.38 per cent to 264,706 tonnes from 231,430 tonnes previously.

Palm kernel oil export expanded by 1.80 per cent to 74,696 tonnes from 73,378 tonnes in the preceding month, but export of palm kernel cake fell 25.35 per cent 150,521 tonnes from 201,625 tonnes before.

In July, biodiesel export surged 58.51 per cent to 66,197 tonnes against June’s 41,762 tonnes.

— Bernama