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NEWS ADMIN

DATE

11/09/2019

NEWS PROVIDER

Siti Safura Masiron

NEWS SOURCE

The Sun Daily

CATEGORY

HEADLINE

Palm oil stocks down 5.3% last month

10.09.2019 (The Sun Daily) - KUALA LUMPUR: Malaysia’s total palm oil stocks fell 5.31% to 2.25 million tonnes in August 2019 from 2.38 million tonnes recorded in the previous month, according to the Malaysian Palm Oil Board (MPOB).

In a statement today, MPOB said crude palm oil (CPO) stocks decreased by 3.55% to 1.29 million tonnes from 1.34 million tonnes while processed palm oil stock decreased by 7.57% to 961,266 tonnes from 1.04 million tonnes previously.

It also said CPO production rose 4.64% to 1.82 million tonnes versus 1.74 million tonnes in July.

Palm kernel output was higher by 8.31% at 446,625 tonnes from 412,353 tonnes.

Palm oil exports increased by 16.37% to 1.73 million tonnes from 1.49 million tonnes in July, while exports of oleochemical rose 4.57% to 302,011 tonnes against last month’s 288,802 tonnes.

Biodiesel exports in the month under review decreased by 40.43% to 47,012 tonnes from 78,920 tonnes, while exports of palm kernel cake decreased 34.06% to 144,090 tonnes from 218,501 tonnes.

Meanwhile, palm kernel oil exports slightly decreased by 0.19% in August 2019 to 86,696 tonnes vis-a-vis 86,865 tonnes in the preceding month. – Bernama