KUALA LUMPUR (Feb 10): Malaysia's palm oil stocks at the end of January fell 7.6% to 1.54 million tonnes from a month earlier, industry regulator the Malaysian Palm Oil Board (MPOB) said on Friday.
Output for January fell 13.4% from December to 1.28 million tonnes. Exports rose 1.2% to 1.28 million tonnes.
A Thomson Reuters survey had pegged inventory levels to fall 10.7% to 1.49 million tonnes, and production to decline 9.1% to 1.34 million tonnes.
Exports were forecast to rise 1% to 1.29 million tonnes.
The following is a breakdown of Malaysian Palm Oil Board figures and Reuters estimates for January:
(volumes in tonnes)
Jan 2017 | Jan 2017 poll | Jan 2016 | Dec 2016 | |
Output | 1,276,848 | 1,340,000 | 1,129,747 | 1,473,717 |
Stocks | 1,540,832 | 1,488,000 | 2,308,582 | 1,666,673* |
Exports | 1,282,584 | 1,293,300 | 1,279,187 | 1,267,962* |
Imports | 71,591 | 45,000 | 34,400 | 44,752 |
*denotes revised figures