Malaysia’s February palm oil stocks down 2.85 pct to 2.48 mln tonnes
KUALA LUMPUR: Malaysia’s total palm oil stocks in February 2018 slipped by 2.85 per cent to 2.48 million tonnes against 2.55 million tonnes in January 2018.
In a statement yesterday, the Malaysian Palm Oil Board (MPOB) said, crude palm oil (CPO) stocks fell by 0.8 per cent month-on-month (m-o-m) to 1.56 million tonnes from 1.57 million previously.
It said stocks of processed palm oil were reduced by 6.15 per cent m-o-m to 916,309 tonnes from 976,389 tonnes in January 2018.
During the same month, CPO production m-o-m fell to 1.34 million tonnes from 1.59 million tonnes, it said.
The board said palm kernel output slipped to 340,708 tonnes versus 418,424 tonne previously.
On exports, it said, biodiesel in February surged to 34,875 tonnes m-o-m versus 33,087 tonnes, while palm oil decreased to 1.31 million tonnes from 1.51 million tonnes.
However, MPOB said, palm kernel oil export rose to 108,017 tonnes from 72,938 tonnes, it said.
It said palm kernel cake export rose to 217,874 tonnes mo-m from 217,817 tonnes, while oleochemicals declined to 239,199 tonnes from 255,448 tonnes.