Malaysia's palm oil stocks fell to 2.02 million tonnes in January

KUALA LUMPUR: Malaysia's total palm oil stocks fell 11.83 percent to 2.02 million metric tons at the end of January 2024 from 2.29 million metric tons in December last year, according to the Malaysian Palm Oil Board (MPOB). In its latest industry performance report for January 2024, MPOB said crude palm oil (CPO) inventories decreased by 11.84 percent to 1.05 million tonnes last month from 1.20 million tonnes in December. Stocks of processed palm oil decreased by 11.82 percent to 963,865 tons in January from 1.09 million tons previously, he said. Meanwhile, CPO production fell 9.59 percent to 1.40 million tonnes in January from 1.55 million tonnes in the previous month while palm kernel output declined by 7.96 percent to 341,640 tonnes from 371,204 tonnes in December. MPOB said palm oil exports decreased by 0.85 percent or 11,571 tons, to 1.35 million tons in January from 1.36 million tons in December, however oleochemical exports increased by 3.46 percent to 253,161 tons. ...