10.02.2021 (www.theedgemarkets.com) - KUALA LUMPUR (Feb 10): The Malaysian crude palm oil (CPO) stocks rose 9.76% to 640,781 tonnes in January 2021 from 583,811 tonnes in December 2020, according to the Malaysian Palm Oil Board (MPOB).

The processed palm oil stocks, however, only grew by 0.34% month-on-month (m-o-m) to 684,182 tonnes from 681,887 tonnes previously, MPOB said in its monthly palm oil industry performance report for January 2021.

Overall, it said total palm oil stocks increased by 4.68% m-o-m to 1.32 million tonnes from 1.26 million tonnes previously.

However, the MPOB noted that January 2021's production slid 15.52% to 1.12 million tonnes versus 1.33 million tonnes in December 2020.

It said palm kernel output was 10.72% m-o-m lower at 276,957 tonnes from 310,213 tonnes previously, and crude palm kernel oil stocks went down 9.01% m-o-m to 128,809 tonnes from 141,567 tonnes in December 2020.

Meanwhile, it said palm oil exports in January 2021 dropped 42.33% to 947,395 tonnes from 1.64 million tonnes in December 2020, and oleochemical exports slipped by 2.13% m-o-m to 241,897 tonnes compared with 247,171 tonnes previously.

Additionally, the MPOB said biodiesel exports in the month under review plummeted 76.51% m-o-m to 10,081 tonnes from 42,913 tonnes previously, and palm kernel oil exports depreciated 57.11% m-o-m to 62,432 tonnes from 145,551 tonnes in the preceding month.

It said exports of palm kernel cake decreased marginally by 0.79% m-o-m to 166,881 tonnes in January 2021 from 168,208 tonnes previously, while CPO imports fell sharply by 88.45% to 13,903 tonnes from 120,337 tonnes.

It added that the total palm oil imports were 41.43% lower at 165,198 tonnes in January 2021 from 282,058 tonnes in December 2020.

https://www.theedgemarkets.com/article/malaysian-cpo-stocks-976-january-%E2%80%94-mpob