Malaysia’s February palm oil stocks rise to 3.05 million tonnes
KUALA LUMPUR: Malaysia’s total palm oil stocks in February increased 1.34 per cent to 3.05 million tonnes from 3.01 million tonnes in January.
Crude palm oil (CPO) stocks rose 2.29 per cent to 1.92 million tonnes during the month under review from 1.87 million tonnes in the preceding month.
Stocks of processed palm oil, however, went down 0.24 per cent to 1.129 million tonnes from 1.131 million tonnes previously, said the Malaysian Palm Oil Board (MPOB) in its “Performance of the Malaysian Palm Oil Industry for the Month of February 2019 ” released yesterday.
It said CPO production fell 11.1 per cent to 1.54 million tonnes in February from 1.74 million tonnes in the previous month.
Palm kernel output was also 11.16 per cent lower at 395,697 tonnes in February versus January’s production of 445,427 tonnes.
The MPOB said palm oil exports slipped 21.38 per cent to 1.32 million tonnes in February from 1.68 million tonnes in January, while exports of oleochemical went up 15.80 per cent to 273,964 tonnes from 236,589 tonnes.
Biodiesel exports in February declined 16.49 per cent to 36,986 tonnes against January’s 44, 287 tonnes, while exports of palm kernel cake shed 15.62 per cent to 190,727 tonnes from 226,022 tonnes.
In February, palm kernel oil exports, expanded by 15.96 per cent to 91, 234 tonnes from 78,674 tonnes in the preceding month. — Bernama