Palm oil stocks rise 0.83 pct in June

KUALA LUMPUR: Total palm oil stocks increased 0.83 per cent in June 2018 to 2.19 million tonnes from 2.17 million tonnes recorded in May.

Crude palm oil (cpo) accounted for 1.22 million tonnes, a rise of 4.38 per cent, while processed palm oil contracted 3.29 per cent to 971,796 tonnes, according to the Malaysian Palm Oil Board (MPOB) in its monthly performance statement.

Cpo output dropped 12.63 per cent during the month under review to 1.33 million tonnes from 1.53 million tonnes a month earlier.

Palm kernel output declined 17.13 per cent to 315,731 tonnes.

Meanwhile, exports of palm oil contracted by 12.57 per cent to 1.13 million tonnes in June but biodiesel exports increased by 13.42 per cent to 41,762 tonnes. — Bernama