Malaysia’s palm oil stocks down 6.69% in January

The Malaysian Palm Oil Board says palm oil exports rose to 1.68 million tonnes in January from 1.38 million tonnes in December. (Reuters pic)

KUALA LUMPUR: Malaysia’s total palm oil stocks in January 2019 fell 6.69% to 3 million tonnes from 3.22 million tonnes in December 2018.

Crude palm oil (CPO) stocks decreased by 3.69% to 1.87 million tonnes from 1.94 million tonnes in the preceding month.

Stocks of processed palm oil went down by 11.27% to 1.13 million tonnes from 1.28 million tonnes previously, said the Malaysian Palm Oil Board (MPOB) in its “Performance of the Malaysian Palm Oil Industry for the Month of January 2019” released here today.

It said CPO production fell 3.9% to 1.74 million tonnes in January from 1.81 million tonnes in the previous month.

Palm kernel output was also 0.25% lower at 445,427 tonnes in January versus December’s production of 446,528 tonnes.

The MPOB said palm oil exports rose 21.19% to 1.68 million tonnes in January from 1.38 million tonnes in December, while exports of oleochemical reduced by 9.40% to 229,937 tonnes from 253,802 tonnes.

Biodiesel exports in the month under review declined 41.24% to 44,287 tonnes against December’s 75,374 tonnes, while exports of palm kernel cake rose 12.04% to 226,022 tonnes from 201,727 tonnes.

In January, palm kernel oil exports expanded by 28.36% to 78,590 tonnes from 61,228 tonnes in the preceding month.