KUALA LUMPUR: Malaysian crude palm oil (CPO) stocks continued to increase in March 2021, growing 12.37% to 742,742 tonnes from 660,987 tonnes the month before, according to the Malaysian Palm Oil Board (MPOB).
Processed palm oil stocks also improved 9.02% month-on-month (m-o-m) to 703,228 tonnes from 645,035 tonnes, the agency said in its palm oil industry performance report for March.
Overall, total palm oil stocks rose 10.72% 1.45 million tonnes from 1.31 million tonnes previously.
MPOB noted that CPO production expanded 28.43% to 1.42 million tonnes versus 1.11 million tonnes in February.
It said palm kernel output was 31.89% higher at 359,134 tonnes versus 272,303 tonnes in the preceding month while crude palm kernel oil stocks went up 33.21% m-o-m to 164,292 tonnes from 123,336 tonnes previously.
Meanwhile, it said palm oil exports in March rose 31.83% to 1.18 million tonnes from 896,647 tonnes in February and palm kernel oil exports increased 45.71% m-o-m to 94,073 tonnes from 64,561 tonnes in the preceding month.
MPOB said oleochemical exports increased 2.3% m-o-m to 261,219 tonnes from 255,356 tonnes, while biodiesel exports in the month under review dropped 50.94% m-o-m to 13,839 tonnes from 28,206 tonnes previously.
It said CPO imports fell sharply by 31.34% to 4,903 tonnes against 7,140 tonnes and total palm oil imports was 57.26% higher at 137,332 tonnes from 87,326 tonnes in February. — Bernama