Malaysia end-Nov palm oil stocks fall for the first time in six months
13/12/2022 (The Star Online), Kuala Lumpur - Malaysia's palm oil stocks at the end of November fell for the first time in six months as production slumped amid a slight pick-up in exports, data from the nation's palm oil board showed on Tuesday.
Stockpiles in the world's second-largest producer eased 4.98% from a three-year high in October to 2.29 million tonnes, according to the Malaysian Palm Oil Board (MPOB).
This was lower than a Reuters' poll estimating stockpiles would be at 2.39 million tonnes.
Crude palm oil production, hampered by heavy rains and flooding in the Southeast Asian nation, shrank 7.33% to 1.68 million tonnes.
Exports rose slightly by 0.92% to 1.52 million tonnes while imports fell 31.88%.
Following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for November (volumes in tonnes): - Reuters
Nov 2022 Nov 2022 pool Oct 2022* Nov 2022
Output 1,680,743 1,722,912 1,813,591 1,634,932
Stocks 2,288,473 2,392,337 2,408,293* 1,817,061
Exports 1,517,731 1,549,446 1,503,835* 1,465,518
Imports 47,047 77,500 69,064* 97,891
*indicates revised figures by Malaysian Palm Oil Board