MPOB: CPO stocks rises 24.76% in September 2022

KUALA LUMPUR: Malaysia’s crude palm oil (CPO) stocks for September 2022 rose 24.76 per cent to 1.28 million tonnes from 1.03 million tonnes recorded in the previous month, according to the Malaysian Palm Oil Board (MPOB).

In a statement today, it said processed palm oil inventory fell 3.11 per cent month-on-month (m-o-m) to 1.04 million tonnes from 1.07 million tonnes.

"Overall, palm oil stocks added 10.54 per cent to 2.32 million tonnes from 2.09 million tonnes previously.

"As for production, CPO output increased by 2.59 per cent to 1.77 million tonnes against 1.73 million tonnes in August,” it said.

It said palm kernel output perked16.05 per cent to 186,799 tonnes from 160,961 tonnes in the preceding month but crude palm kernel oil production was 4.3 per cent lower at 97,002 tonnes from 101,363 tonnes in August.

Meanwhile, MPOB said palm oil export rose 9.25 per cent m-o-m to 1.40 million tonnes in September from 1.3 million tonnes in August while palm kernel oil exports rose 13.24 per cent m-o-m to 92,130 tonnes from 81,356 tonnes in the preceding month.

"Oleochemical exports increased 10.25 per cent m-o-m to 237,793 tonnes from 214,786 tonnes while biodiesel exports rose 11.74 per cent m-o-m to 29,324 tonnes from 26,244 tonnes,” it said.

It added that Malaysia’s import of CPO in June 2022 soared 653.8 per cent to 6,302 tonnes compared with 836 tonnes imported in August while total palm oil imports fell 23.15 per cent to 132,303 tonnes from 172,151 tonnes in the preceding month. - Bernama