Malaysian June palm oil inventory up 7.66% at 1.78m tonnes - MPOB

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KUALA LUMPUR (July 12): Malaysian palm oil inventory, comprising crude palm oil (CPO) and processed palm oil, increased 7.66% to 1.78 million tonnes in June, from 1.65 million tonnes a month earlier. Inventory rose on lower exports, amid higher CPO output.

Malaysian Palm Oil Board (MPOB) data today showed June palm oil exports dropped 11.71% to 1.13 million tonnes, from 1.28 million tonnes.

June CPO production increased 12.31% to 1.53 million tonnes, from 1.36 million tonnes, on higher output across Peninsular Malaysia, Sabah and Sarawak.

According to MPOB, Peninsular Malaysia CPO output rose 8.95%, while production in Sabah and Sarawak climbed 15.32% and 16.59% respectively.

In May, palm oil inventory fell 8.54% from a month earlier.