Thursday 18 Apr 2024
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KUALA LUMPUR (Sept 11): Malaysia’s August palm oil stockpile rose 8.79% to 1.94 million tonnes, from 1.79 million tonnes in July, following a significant rise in July palm oil inventory and crude palm oil (CPO) imports, according to the Malaysian Palm Oil Board (MPOB).

The country's palm oil inventory comprises CPO and processed palm oil. In July, palm oil stockpile rose 20.67% from a month earlier, while CPO imports climbed 116.25%, MPOB said last month.

Today, MPOB said in a statement that August CPO output slipped 0.9% to 1.81 million tonnes, from 1.83 million tonnes in July.

Meanwhile, palm oil exports grew 6.43% to 1.49 million tonnes, from 1.4 million tonnes, while CPO imports jumped 60.68% to 10,446 tonnes, from 6,501 tonnes, MPOB said.

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