January palm oil stockpile falls first time in eight months

The government will draw up new strategies and approaches to combat the anti-palm oil campaign by the European Union (EU) which give negative perceptions of the palm oil industry in this country.

KUALA LUMPUR: Palm oil stockpiles in Malaysia, world’s second-largest producer, fell 6.7% to three million tonnes in January from month earlier, Malaysian Palm Oil Board says in statement 
on Monday.

That’s the first monthly decline in eight months.

“Output fell 3.9% to 1.74 million tonnes, exports rose 21% to 1.68 million tonnes, imports at 81,084 tonnes,” it said.

Estimates according to Bloomberg survey showed January inventories at 3.03 million tonnes, production at 1.63 million tonnes and shipments at 1.56 million tonnes. - Bloomberg