13/02/2008 (Forbes), Kuala Lumpur - Malaysia, the world's leading producer of palm oil, said Wednesday crude palm oil production rose 2 percent in January from December as the industry recovered from a seasonal year-end downcycle.
Crude palm oil output in January stood at 1.424 million metric tons, up from 1.396 million tons in the previous month, the Malaysian Palm (nasdaq: PALM - news - people ) Oil Board (MPOB) said in its latest report.
Total stock of crude palm oil grew 6.6 percent to 988,209 tons from 926,979 tons in December, said the government agency.
Palm oil stock, including processed palm oil, climbed 11.5 percent to 1.875 million tons, against 1.682 million tons in December.
The lower inventory came after exports of palm oil slumped 24 percent to 1.037 million tons from the previous month, it said.
Malaysia's crude palm oil output plunged 15.4 percent in December from November after Johor, one of the largest palm oil producing states, was hit by severe flooding.
At midday, crude palm oil futures traded on the Malaysian derivatives exchange were mixed, with the benchmark April contract up 1 ringgit at 3,376 ringgit per ton.