Crude palm oil inventory rises 17.4% in April

Good yield: Palm oil fruits are seen at a plantation in Peninsular Malaysia. Higher production results in exports of palm kernel oil increasing in April too. — Reuters

PETALING JAYA: Malaysia’s crude palm oil (CPO) stocks grew to 891,779 tonnes in April 2022, up 17.4% from the 759,732 tonnes recorded in March, on higher production, according to the Malaysian Palm Oil Board (MPOB).

MPOB said the processed palm oil inventory also rose 5.2% month-on-month (m-o-m) to 750,215 tonnes from 713,112 tonnes previously.

Overall, palm oil stocks improved 11.5% to 1.64 million tonnes from 1.47 million tonnes in March, the agency said in a statement yesterday.

As for production, MPOB said CPO output increased 3.6% m-o-m to 1.46 million tonnes against 1.41 million tonnes previously.

Palm kernel output rose 2.23% to 367,159 tonnes from 359,165 tonnes in the preceding month, while crude palm kernel oil production jumped 4.59% to 168,068 tonnes from 160,693 tonnes in March.

Meanwhile, palm oil exports dropped 17.7% m-o-m to 1.05 million tonnes in April versus 1.28 million tonnes in March, MPOB said.

Exports of palm kernel oil, however, grew 7.2% m-o-m to 74,203 tonnes compared with 69,221 tonnes in the preceding month.

Oleochemical exports slipped 0.46% m-o-m to 242,863 tonnes in April from 243,978 tonnes previously.

Biodiesel exports, meanwhile, surged 47.68% m-o-m to 23,411 tonnes from 15,853 tonnes, MPOB added in the statement. — Bernama