Selangor Journal

Malaysia’s palm oil stocks up 1.92 pct to 1.72 mln tonnes in June — MPOB

KUALA LUMPUR, July 10 — Malaysia’s total palm oil stocks increased by 1.92 per cent to 1.72 million tonnes in June 2023, from 1.69 million tonnes in the preceding month.

In its latest industry performance report for June 2023, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) inventory fell by 0.43 per cent to 917,846 tonnes last month from 921,800 tonnes in May.

Processed palm oil stocks, meanwhile, rose by 4.75 per cent to 802,721 tonnes from 766,346 tonnes previously.

CPO production decreased by 4.60 per cent to 1.45 million tonnes in June from 1.52 million tonnes in the month before, while palm kernel output went down by 4.67 per cent to 350,516 tonnes from 367,689 tonnes.

It said palm oil exports rose by 8.59 per cent, or 92,721 tonnes, to 1.17 million tonnes in June from 1.08 million tonnes previously, while oleochemical exports decreased by 3.85 per cent to 218,297 tonnes.

Biodiesel exports declined by 4.72 per cent to 12,927 tonnes in June from the preceding month’s 13,568 tonnes.

Exports of palm kernel cake fell 25.18 per cent to 133,089 tonnes from 177,877 tonnes previously, and palm kernel oil exports also fell 30.90 per cent to 64,819 tonnes from 93,804 tonnes in May.

CPO imports stood at 8,469 tonnes in June, the same level as in May, while total palm oil imports surged by 67.15 per cent to 135,271 tonnes compared with 80,926 tonnes in the previous month.

— Bernama

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