In January, palm oil stocks in Malaysia increased again

Published Feb 13, 2023

Tridge summary

Palm oil stocks in Malaysia saw a 3.26% increase in January, reaching 2.27 million tons, despite a decrease in production and exports. The drop in production, which was caused by heavy monsoon rains and floods, led to the lowest production figures in the past 11 months. Imports of palm oil doubled last month, and exports hit their lowest since April 2022. Market operators and experts anticipate a rise in exports in February, driven by Indonesia's plans to restrict palm oil exports.

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Original content

According to MPOB experts, palm oil stocks in Malaysia increased by 3.26% in January to 2.27 million tons, amid active imports, as well as a significant reduction in production and exports of the product, Reuters reports. According to reports, the import of palm oil to Malaysia doubled last month to 144.9 thousand tons. Production volumes of the product fell by 14.7% month-on-month to 1.38 million tons in January due to heavy monsoon rains and floods that prevented the harvesting of oil palm trees, which is the lowest figure for the past 11 months. Exports of palm oil from Malaysia in January, according to experts, fell by almost 23% - to 1.14 million tons, which is the lowest ...

Source: Agroconf