The Star Online (11/03/2021) - PETALING JAYA: Malaysian crude palm oil (CPO) stocks continued to grow last month, rising 2.44% to 656,047 tonnes from 640,435 tonnes in January, according to the Malaysian Palm Oil Board (MPOB).

However, processed palm oil stocks declined 5.76% month-on-month (m-o-m) to 644,761 tonnes from 684,191 tonnes, the agency said in its monthly palm oil industry performance report for February 2021.

Overall, total palm oil stocks decreased 1.80% m-o-m to 1.30 million tonnes from 1.32 million tonnes previously.

MPOB noted that CPO production slid 1.85% to 1.11 million tonnes versus 1.13 million tonnes in January.

It said palm kernel output was 1.94% lower at 271,623 tonnes versus 277,001 tonnes in the preceding month, while crude palm kernel oil stocks went down 4.25% m-o-m to 123,336 tonnes from 128,809 tonnes previously.

Meanwhile, it said palm oil exports in February dropped 5.49% to 895,556 tonnes from 947,539 tonnes in January and palm kernel oil exports declined 7.32% m-o-m to 64,317 tonnes from 69,397 tonnes in the preceding month.

MPOB said oleochemical exports increased 5.60% m-o-m to 257,222 tonnes from 243,584 tonnes, while biodiesel exports in the month under review soared 179.79% m-o-m to 28,206 tonnes from 10,081 tonnes previously.

It said CPO imports fell sharply by 48.64% to 7,140 tonnes from 13,903 tonnes and total palm oil imports was 47.14% lower at 87,326 tonnes against 165,198 tonnes in January.

The MPOB’s main role is to promote and develop national objectives, policies and priorities for the well-being of the Malaysian oil palm industry. ─ Bernama

Read more at https://www.thestar.com.my/business/business-news/2021/03/11/malaysian-cpo-stocks-continued-to-rise-in-february