India’s palm oil imports from Malaysia up 49pc in August 2022
13/09/2022 (Malay Mail), Delhi - India imported 353,556 tonnes of palm oil from Malaysia last month, up 49 per cent from July 2022, as its overall edible oil imports grew 14 per cent month-on-month.
The imports from Malaysia comprised 306,376 tonnes of crude palm oil (CPO), 39,480 tonnes of RBD palm olein, and 7,700 tonnes of crude palm kernel oil, according to data released by the Solvent Extractors’ Association of India (SEA) today.
In July, Indian palm oil imports from Malaysia totalled 237,778 tonnes, including 215,064 tonnes of CPO.
India imported 1.37 million tonnes of edible oils in August compared with 1.2 million tonnes in the previous month, SEA said.
Palm oil’s share of August’s edible oil imports was more than 72 per cent. — Bernama
Malaysia end-Aug palm oil stocks jump to 33-month high
12/09/2022 (The Edge Markets) - Malaysia's palm oil stocks at the end of August climbed to their highest in 33 months, as output rose with peak production season getting underway, palm oil board data showed on Monday (Sept 12).
Inventories rose 18.16% from the previous month to 2.09 million tonnes, hitting the highest level since November 2019, data from the Malaysian Palm Oil Board showed.
Crude palm oil (CPO) production rose for a third straight month, expanding 9.67% from July to 1.73 million tonnes.
Exports fell 1.94% to 1.3 million tonnes, MPOB said.
Overseas shipments will remain robust above 1.3 million tonnes both in September and October as weakening palm prices will draw greater interest from India, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.
"Concerns remain over demand for Malaysian CPO as neighbour Indonesia revises taxes and raises exportable volumes to clear its inventories, which could potentially weigh on the benchmark CPO prices and render tough competition," Joseph Tek, Malaysian Palm Oil Association (MPOA) chief executive said in a statement last week.
The MPOA had warned that weather uncertainties and a triple-dip La Nina weather phenomenon, the first of this century, will hit production in the months ahead.
La Nina is forecast to last through the end of this year, with heavy rainfall and floods expected to force plantations to their limits, Tek said.
Further hammered by a labour shortage, 2022 production in the world's second-largest producer is forecast to decline for a third year, or at best remain unchanged from last year's 18.8 million tonnes.
https://www.theedgemarkets.com/article/malaysia-endaug-palm-oil-stocks-jump-33month-high