Palm oil stocks fell 6.3% to 1.9m tonnes in June


  • Plantations
  • Friday, 10 Jul 2020

Workers stand near palm oil fruits inside a palm oil factory in Sepang, outside Kuala Lumpur

KUALA LUMPUR: Malaysia's total palm oil stock decreased by 6.33 per cent month-on-month (m-o-m) to 1.9 million tonnes in June 2020 from 2.03 million tonnes in May 2020, the Malaysian Palm Oil Board (MPOB) said on Friday.

MPOB said processed palm oil stock fell 15.79 per cent m-o-m to 873,98 tonnes during the month, but crude palm oil (CPO) supplies increased 3.56 per cent m-o-m to 1.03 million tonnes.

Meanwhile, CPO production rose 14.19 per cent m-o-m to 1.89 million tonnes from 1.65 million tonnes previously.

Palm kernel output was 16.08 per cent m-o-m higher at 465,797 tonnes and crude palm kernel oil production improved 9.67 per cent m-o-m to 215,741 tonnes, while the production of palm kernel cake increased 11.34 per cent m-o-m to 245,479 tonnes.

MPOB said palm oil exports rose 24.91 per cent m-o-m in June 2020 to 1.71 million tonnes from 1.37 million tonnes previously.

Exports of palm kernel cake grew by 66.23 per cent m-o-m to 317,534 tonnes, palm kernel oil rose 25.44 per cent m-o-m to 94,144 tonnes, while oleochemical went up 17.81 per cent m-o-m to 274,391 tonnes.

Meanwhile, biodiesel exports decreased 14.1 per cent m-o-m to 16,022 tonnes.

As for imports, MPOB said the CPO imports narrowed 20.97 per cent m-o-m to 13,897 tonnes in June, while total palm oil imports expanded 31.64 per cent to 48,841 tonnes. - Bernama
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MPOB , Palm oil stock , CPO , Palm kernel

   

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