Malaysia’s palm oil stocks fall 4.64% to 2.29 mil tonnes in December
10/01/2024 (The Edge Malaysia), Kuala Lumpur - Malaysia’s total palm oil stocks fell by 4.64% to 2.29 million tonnes in December, from 2.40 million tonnes in November, according to the Malaysian Palm Oil Board (MPOB).
In its latest industry performance report for December 2023, the MPOB said crude palm oil (CPO) inventory decreased by 9.43% to 1.20 million tonnes last month, from 1.32 million tonnes in November.
Meanwhile, processed palm oil stocks increased by 1.23% to 1.09 million tonnes in December, from 1.08 million tonnes previously.
CPO production fell 13.31% to 1.55 million tonnes in December, from 1.79 million tonnes in the previous month, and palm kernel output went down by 14.00% to 371,202 tonnes, from 431,641 tonnes earlier.
The MPOB said palm oil exports slipped by 5.12% or 72,021 tonnes to 1.33 million tonnes in December, from November’s 1.41 million tonnes, and oleochemical exports slipped by 5.38% to 245,048 tonnes.
Biodiesel exports dropped 0.76% to 17,834 tonnes in December, from 17,971 tonnes in the preceding month.
Exports of palm kernel cake were down 33.77% to 178,436 tonnes last month, while palm kernel oil exports were 11.53% lower to 88,261 tonnes, from 99,768 tonnes in November.
CPO imports stood at 11,103 tonnes in December, while total palm oil imports dropped 7.87% to 36,573 tonnes, compared with 39,696 tonnes in the previous month.