Malaysia Dec palm oil stockpile rises to 2.73m tonnes

Malaysia Dec palm oil stockpile rises to 2.73m tonnes
-A +A

KUALA LUMPUR (Jan 10): Malaysia’s palm oil stockpile rose 6.97% to 2.73 million tonnes in December 2017, from 2.55 million tonnes in November, on higher inventory across Peninsular Malaysia and Sabah.

According to the Malaysian Palm Oil Board's (MPOB) statement today, inventory comprises crude palm oil (CPO) and processed palm oil. MPOB said palm oil stockpile across Peninsular Malaysia and Sabah rose 10.37% and 4.76% respectively.
 
Total inventory fell despite a dip in the nation's CPO production. MPOB said CPO production fell 5.59% to 1.83 million tonnes, from 1.94 million tonnes.

Palm oil exports, however, rose 4.91% to 1.42 million tonnes from 1.36 million tonnes, the statement added.
 
In November, the nation's palm oil stockpile rose 15.9% from the preceding month, MPOB said.