Malaysia's palm oil inventory down 11% in Dec 2019

Malaysia's palm oil inventory down 11% in Dec 2019
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KUALA LUMPUR (Jan 10): Malaysia's total palm oil stocks dropped 11 per cent to 2.01 million tonnes in December 2019 from 2.26 million tonnes recorded in the previous month.

In a statement today, the Malaysian Palm Oil Board (MPOB) said crude palm oil (CPO) stocks decreased by 11.58 per cent to 1.02 million tonnes in December from 1.15 million tonnes in November, while processed palm oil stocks lost 10.38 per cent to 987,579 tonnes from 1.1 million tonnes previously.

It also said CPO production depreciated 13.27 per cent to 1.33 million tonnes in December from 1.54 million tonnes in November, while palm kernel output was 12.8 per cent lower at 316,24 tonnes from 362,641 tonnes.

“Palm oil exports inched down 0.67 per cent in December to 1.4 million tonnes from 1.41 million tonnes in November, while exports of oleo-chemicals declined 8.9 per cent to 261,229 tonnes compared to 286,747 tonnes,” MPOB said.

Biodiesel exports in the month under review, however, surged 1.70 per cent to 44,904 tonnes from 44,153 tonnes in the preceding month, while exports of palm kernel cake fell 7.53 per cent to 205,07 tonnes from 221,772 tonnes.

Meanwhile, palm kernel oil exports went up by 2.83 per cent in December 2019 to 92,431 tonnes from 89,886 tonnes in the preceding month, it said.