MARKET DEVELOPMENT
Palm Oil Stocks Dwindle 2.63 Per Cent To 1.93 Million Tonnes In January
Palm Oil Stocks Dwindle 2.63 Per Cent To 1.93 Million Tonnes In January
10/02/2014 (Bernama) - Palm oil stocks fell 2.63 per cent to 1.93 million tonnes last month from 1.99 million tonnes in December 2013, the Malaysian Palm Oil Board (MPOB) said Monday.
It said crude palm oil (CPO) stocks declined 4.22 per cent to 1.07 million tonnes last month while processed palm oil shed 0.58 per cent to 863,581 tonnes.
Palm kernel stocks was 4.31 per cent lower at 114,980 tonnes last month and crude palm kernel oil stocks fell 7.13 per cent to 143,205 tonnes, the board said in a statement.
The MPOB said CPO production in January 2014 went down 9.57 per cent to 1.51 million tonnes from 1.67 million tonnes in the preceding month.
Palm kernel production last month fell 9.17 per cent to 387,347 tonnes in the month under reviewe, while crude palm kernel oil output dipped 14.35 per cent to 182,902 tonnes.
Production of palm kernel cake declined 14.08 per cent to 203,050 tonnes from 263,311 tonnes in December 2013.
MPOB said palm oil exports in January slipped 9.93 per cent to 1.37 million tonnes from 1.52 million tonnes in December 2013.
It said CPO imports rose marginally by 151.48 per cent last month to 5,828 tonnes while imports of processed palm oil plunged 55.27 per cent to 9,954 tonnes.
The average price of fresh fruit bunches per tonne eased 1.34 per cent to RM27.27 per tonne in January from RM27.64 in December 2013, the board added.
It said crude palm oil (CPO) stocks declined 4.22 per cent to 1.07 million tonnes last month while processed palm oil shed 0.58 per cent to 863,581 tonnes.
Palm kernel stocks was 4.31 per cent lower at 114,980 tonnes last month and crude palm kernel oil stocks fell 7.13 per cent to 143,205 tonnes, the board said in a statement.
The MPOB said CPO production in January 2014 went down 9.57 per cent to 1.51 million tonnes from 1.67 million tonnes in the preceding month.
Palm kernel production last month fell 9.17 per cent to 387,347 tonnes in the month under reviewe, while crude palm kernel oil output dipped 14.35 per cent to 182,902 tonnes.
Production of palm kernel cake declined 14.08 per cent to 203,050 tonnes from 263,311 tonnes in December 2013.
MPOB said palm oil exports in January slipped 9.93 per cent to 1.37 million tonnes from 1.52 million tonnes in December 2013.
It said CPO imports rose marginally by 151.48 per cent last month to 5,828 tonnes while imports of processed palm oil plunged 55.27 per cent to 9,954 tonnes.
The average price of fresh fruit bunches per tonne eased 1.34 per cent to RM27.27 per tonne in January from RM27.64 in December 2013, the board added.