Malaysian palm oil stocks were up 0.5 pct to 1.75 mln tonnes in May, according to the MPOB
Published Jun 10, 2024
Tridge summary
In May 2024, Malaysia experienced a slight increase in its palm oil stocks by 0.5%, totaling 1.75 million tonnes, as reported by the Malaysian Palm Oil Board (MPOB). This rise was largely due to a 1.59% increase in crude palm oil (CPO) stocks, reaching 979,352 tonnes, despite a minor decrease in processed palm oil stocks by 0.85% to 774,192 tonnes.
The country saw substantial growth in the production of both CPO and palm kernel, with increases of 13.48% to 1.70 million tonnes and 11.13% to 408,318 tonnes, respectively. However, palm oil exports experienced an 11.66% decline to 1.38 million tonnes, while biodiesel exports saw a significant drop of 40.85% to 20,880 tonnes. On the other hand, oleochemical exports increased by 9.95% to 256,348 tonnes. Import data showed a decrease in both palm and processed palm oil by 40.28% to 20,761 tonnes, but a notable 24.02% increase in total palm kernel oil imports to 15,842 tonnes.
The country saw substantial growth in the production of both CPO and palm kernel, with increases of 13.48% to 1.70 million tonnes and 11.13% to 408,318 tonnes, respectively. However, palm oil exports experienced an 11.66% decline to 1.38 million tonnes, while biodiesel exports saw a significant drop of 40.85% to 20,880 tonnes. On the other hand, oleochemical exports increased by 9.95% to 256,348 tonnes. Import data showed a decrease in both palm and processed palm oil by 40.28% to 20,761 tonnes, but a notable 24.02% increase in total palm kernel oil imports to 15,842 tonnes.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
KUALA LUMPUR: Malaysia's total palm oil stocks increased by 0.5 per cent to 1.75 million tonnes in May 2024 from 1.74 million tonnes in April 2024, according to the Malaysian Palm Oil Board (MPOB). In its May 2024 industry performance report, MPOB said the country's crude palm oil (CPO) stocks rose 1.59 per cent to 979,352 tonnes in May from 964,049 tonnes recorded in April. "Processed palm oil stocks declined 0.85 per cent to 774,192 tonnes in May from 780,811 tonnes previously," it said. Meanwhile, it said CPO production gained 13.48 per cent to 1.70 million tonnes in May from 1.50 million tonnes in the preceding month, while palm kernel output surged 11.13 per cent to 408,318 tonnes from 367,420 tonnes in April. MPOB said palm oil exports were up by 11.66 per cent to 1.38 million tonnes in May versus 1.23 million tonnes in April, but biodiesel exports fell by 40.85 per cent to 20,880 tonnes in May against 35,298 tonnes in April. Oleochemical exports inched up 9.95 per cent to ...
Source: Astroawani
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