Malaysia’s palm oil stocks rise 24.54% in September
Palm oil exports fell 12.13% to 1.22 million tonnes, while crude palm oil production increased 16.48%, according to MPOB.
Malaysia ended September with palm oil inventories of 3.51 million tonnes, the Malaysian Palm Oil Board (MPOB) said. The stockpile increased by 691,835 tonnes, equivalent to 24.54%, compared with August’s 2.8 million tonnes.
Crude palm oil (CPO) accounted for 2.16 million tonnes of the September inventory, against 1.64 million tonnes in August. MPOB put the increase at 31.88%, or 522,905 tonnes. Processed palm oil stocks reached 1.34 million tonnes, up 14.33 %, or 168,930 tonnes, from August’s 1.17 million tonnes.
Production also rose. September CPO output totalled 2.11 million tonnes, an increase of 16.48%, or 299,451 tonnes, compared with 1.81 million tonnes in August. Palm kernel production was 508,392 tonnes, a month-on-month gain of 18.16% from 430,599 tonnes.
Exports moved in the opposite direction, with palm oil shipments declining 12.13% to 1.22 million tonnes. Palm kernel oil exports totalled 74,364 tonnes after falling 34.09%, while palm kernel cake shipments were down 3.99% at 204,687 tonnes.
Oleochemical exports rose 2.62% from August, reaching 239,723 tonnes. Biodiesel shipments dropped 91.69%, leaving September exports at 2,930 tonnes. MPOB also recorded no CPO imports during September.
