KUALA LUMPUR (July 10): Malaysia’s total palm oil stock decreased by 6.33% month-on-month (m-o-m) to 1.9 million tonnes in June 2020 from 2.03 million tonnes in May 2020, the Malaysian Palm Oil Board (MPOB) said today.

In a statement today, the industrial regulator said processed palm oil stock fell 15.79% m-o-m to 873,98 tonnes during the month, but crude palm oil (CPO) supplies increased 3.56% m-o-m to 1.03 million tonnes. 

Meanwhile, CPO production rose 14.19% m-o-m to 1.89 million tonnes from 1.65 million tonnes previously.   

Palm kernel output was 16.08% m-o-m higher at 465,797 tonnes and crude palm kernel oil production improved 9.67% m-o-m to 215,741 tonnes, while the production of palm kernel cake increased 11.34% m-o-m to 245,479 tonnes.

MPOB said palm oil exports rose 24.91% m-o-m in June 2020 to 1.71 million tonnes from 1.37 million tonnes previously.

Exports of palm kernel cake grew by 66.23% m-o-m to 317,534 tonnes, palm kernel oil rose 25.44% m-o-m to 94,144 tonnes, while oleochemical went up 17.81% m-o-m to 274,391 tonnes.

Meanwhile, biodiesel exports decreased 14.1% m-o-m to 16,022 tonnes.

As for imports, MPOB said the CPO imports narrowed 20.97% m-o-m to 13,897 tonnes in June, while total palm oil imports expanded 31.64% to 48,841 tonnes. 

Source : The Edge Markets