11/06/2015 (Bernama) - Malaysia's palm oil stocks, output and exports rose in May 2015 from the previous month, according to the Malaysian Palm Oil Board (MPOB).

In May, total palm oil stocks increased 2.51 per cent to 2.24 million tonnes from 2.18 million tonnes in April.

Of that, processed palm oil accounted for 959,171 tonnes and crude palm oil (CPO) at 1.28 million tonnes, it said in a statement here Wednesday.

According to Phillip Futures Sdn Bhd derivative product specialist David Ng, MPOB was overall bearish, given the increase in stocks from the previous month as the market expected lower figures coupled with an increase in production.

He said stocks increased slightly last month despite the warning of El Nino conditions and yields affected by the dry conditions and possibly resulting in lower production.

In May, MPOB said CPO output was higher by 6.92 per cent to 1.81 million tonnes from 1.69 million tonnes in the previous month.

Meanwhile, palm oil exports too surged 37.30 per cent to 1.61 million tonnes, while that of oleochemicals escalated 1.06 per cent to 233,672 tonnes from 231,228 tonnes.

Exports of biodiesel was higher at 1,314 tonnes, up 606.52 per cent from 186 tonnes previously.