KUALA LUMPUR, June 12 ― Malaysia’s crude palm oil (CPO) stocks for June 2022 rose 6.19 per cent to 881,299 tonnes from 829,915 tonnes recorded in the previous month, according to the Malaysian Palm Oil Board (MPOB).
Processed palm oil inventory went up 11.83 per cent month-on-month (m-o-m) to 773,774 tonnes from 691,911 tonnes, it said. “Overall, palm oil stocks added 8.76 per cent to 1.66 million tonnes from 1.52 million tonnes previously.
“As for production, CPO output increased by 5.76 per cent to 1.545 million tonnes against 1.461 million tonnes in May,” MPOB said in its industry performance report for June 2022.
Palm kernel output perked 6.62 per cent to 378,418 tonnes from 354,912 tonnes in the preceding month, it said, adding that crude palm kernel oil production was 10.94 per cent higher at 175,731 tonnes from 158,408 tonnes in May.
Meanwhile, MPOB said that palm oil export declined 13.26 per cent m-o-m to 1.194 million tonnes in June from 1.376 million tonnes in May, while palm kernel oil exports rose 13.24 per cent m-o-m to 92,130 tonnes from 81,356 tonnes in the preceding month.
“Oleochemical exports dropped 2.72 per cent m-o-m to 210,924 tonnes from 216,816 tonnes while biodiesel exports fell 48.89 per cent m-o-m to 23,689 tonnes from 46,345 tonnes,” it said.
The agency said Malaysia’s import of CPO in June 2022 slipped 0.04 per cent to 2,989 tonnes compared with 2,990 tonnes imported in May, while total palm oil imports added 2.48 per cent to 59,195 tonnes from 57,763 tonnes in the preceding month. ― Bernama
