Palm oil stocks up to 3m tonnes

By BERNAMA / Pic By BLOOMBERG

Malaysia’s total palm oil stocks in February increased by 1.34% to 3.05 million tonnes from 3.01 million tonnes in January.

Crude palm oil (CPO) stocks rose 2.29% to 1.92 million tonnes during the month under review from 1.87 million tonnes in the preceding month.

Stocks of processed palm oil, however, went down 0.24% to 1.129 million tonnes from 1.131 million tonnes previously, said the Malaysian Palm Oil Board (MPOB) in its “Performance of the Malaysian Palm Oil Industry for the Month of February 2019” released in Kuala Lumpur yesterday.

It said CPO production fell 11.1% to 1.54 million tonnes in February from 1.74 million tonnes in the previous month.

Palm kernel (PK) output was also 11.16% lower at 395,697 tonnes in February versus January’s 445,427 tonnes.

The MPOB said palm oil exports slipped 21.38% to 1.32 million tonnes in February from 1.68 million tonnes in January, while exports of oleochemical went up 15.8% to 273,964 tonnes from 236,589 tonnes.

Biodiesel exports in February declined 16.49% to 36,986 tonnes against January’s 44,287 tonnes, while exports of PK cake shed 15.62% to 190,727 tonnes from 226,022 tonnes.

In February, PK oil exports expanded by 15.96% to 91,234 tonnes from 78,674 tonnes in the preceding month. — Bernama