Malaysia’s palm oil stocks drop 12.69pc in Jan 2020

A worker collects palm oil fruits at a plantation in Kuala Selangor January 2, 2020. — Picture by Yusof Mat Isa
A worker collects palm oil fruits at a plantation in Kuala Selangor January 2, 2020. — Picture by Yusof Mat Isa

KUALA LUMPUR, Feb 10 — Malaysia’s total palm oil stocks eased 12.69 per cent to 1.76 million tonnes in January 2020 from 2.01 million tonnes recorded in December 2019.

In a statement today, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stock decreased by 17.13 per cent to 844,867 tonnes in January 2020 from 1.02 million tonnes previously.

Meanwhile, processed palm oil stock dropped 8.11 per cent to 910,613 tonnes from 991,017 tonnes.

CPO production fell 12.60 per cent to 1.17 million tonnes in January 2020 from 1.33 million tonnes in December 2019, while palm kernel output was 9.79 per cent lower at 285,274 tonnes from 316,240 tonnes.

MPOB said palm oil exports depreciated 13.20 per cent in January 2020 to 1.21 million tonnes from 1.40 million tonnes in December 2019, while exports of oleochemical dropped 5.36 per cent to 245,340 tonnes compared to last month’s 2019’s 259,242 tonnes.

Exports of palm kernel cake fell 10.70 per cent to 183,119 tonnes from 205,071 tonnes.

However, biodiesel exports in the month under review surged 23.85 per cent to 58,524 tonnes from 47,252 tonnes in the preceding month.

Meanwhile, palm kernel oil exports increased by 5.30 per cent in January 2020 to 97,331 tonnes from 92,431 tonnes in the preceding month.

MPOB said CPO imports went down 61.42 per cent to 29,298 tonnes during the month from 75,933 tonnes in December 2019. — Bernama

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