The Edge Markets (10/09/2020) KUALA LUMPUR (Sept 10): Malaysia's crude palm oil (CPO) stocks increased by 7.09% to 930,295 tonnes in August from 868,664 tonnes in the preceding month, the Malaysian Palm Oil Board (MPOB) said in its latest report on the industry’s performance for the month of August.
It said processed palm oil stocks, however, went down by 7.30% month-on-month (m-o-m) to 768,811 tonnes during the month from 829,372 in July.
During the month under review, the MPOB said CPO production rose 3.07% m-o-m to 1.862 million tonnes from 1.807 million tonnes previously, while palm kernel output was 2.26% higher at 459,510 tonnes against July’s production of 449,347 tonnes.
Meanwhile, palm oil exports fell 11.31% m-o-m to 1.581 million tonnes versus 1.783 million tonnes previously, while oleochemical exports shrank 12.27% m-o-m to 236,958 tonnes from 270,100 tonnes earlier.
August’s biodiesel exports also slipped 36.69% m-o-m to 24,675 tonnes against 38,974 tonnes previously, while palm kernel oil exports were up 1.78% at 102,379 tonnes versus 100,584 tonnes in the preceding month.
The MPOB added that exports of palm kernel cake increased 8.79% m-o-m to 247,489 tonnes from 227,494 tonnes previously.
Read more at https://www.theedgemarkets.com/article/crude-palm-oil-stocks-709-august-%E2%80%94-mpob