KUALA LUMPUR, Jan 11 — Malaysia’s crude palm oil (CPO) stocks slumped 19.2 per cent to 583,761 tonnes in December 2020 from the 722,451 tonnes in November, the Malaysian Palm Oil Board (MPOB) said.
Processed palm oil stocks shrank by 18.85 per cent month-on-month (m-o-m) to 681,120 tonnes during the month compared with 839,307 tonnes in the preceding month, the board said in its monthly report on the palm oil industry performance for December 2020.
During the month under review, CPO production slid 10.59 per cent m-o-m to 1.33 million tonnes from 1.49 million tonnes previously, while palm kernel output was 11.41 per cent lower at 310,204 tonnes from 350,144 tonnes in November 2020.
“Palm oil exports gained 24.66 per cent to 1.62 million tonnes in December 2020 versus 1.3 million tonnes in the previous month, while oleochemical exports slipped by 5.91 per cent to 246,844 tonnes from 262,392 tonnes previously,” it said.
Meanwhile, biodiesel exports in the month under review jumped 111.34 per cent to 42,913 tonnes compared with 20,305 tonnes in November 2020, while palm kernel oil exports added 58.64 per cent to 145,551 tonnes from 91,747 tonnes in the preceding month.
Exports of palm kernel cake decreased 22.75 per cent to 168,208 tonnes in December 2020 from 217,753 tonnes in November 2020.
— Bernama
