CPO stocks fall in December on lower production

As for production, CPO output decreased 11.26% to 1.45 million tonnes from 1.63 million tonnes in November. Palm kernel output dropped 9.8% to 350,493 tonnes from 388,562 tonnes in the preceding month, the board said

KUALA LUMPUR: Malaysian crude palm oil (CPO) stocks for December 2021 fell 11.89% to 830,339 tonnes from 942,354 tonnes in the previous month on lower production and export, the Malaysian Palm Oil Board (MPOB) said.

The world’s second-largest palm oil producer’s end-December processed palm oil inventory also declined 13.95% month-on-month to 752,701 tonnes from 874,707 tonnes, Bernama reported. The MPOB said overall, stocks slipped 12.88% to 1.58 million tonnes from 1.82 million tonnes previously. This was much lower compared to a Reuters’ poll estimating a stockpile of 1.73 million tonnes.