KUALA LUMPUR: Malaysia’s total palm oil stocks increased 12.6 per cent to 1.69 million tonnes in May 2023 from 1.50 million tonnes in the preceding month.

The Malaysian Palm Oil Board (MPOB), in its latest industry performance report, said crude palm oil (CPO) inventory grew by 10.7 per cent to 921,800 tonnes last month from 832,966 tonnes in April.

Processed palm oil stocks, meanwhile, rose by 15.1 per cent to 764,982 tonnes from 664,651 tonnes previously.

CPO production improved by 26.8 per cent to 1.52 million tonnes in May from 1.20 million tonnes in the month before, while palm kernel output went up by 25.1 per cent to 367,689 tonnes from 293,919 tonnes.

However, MPOB said, palm oil exports edged down 0.8 per cent, or 8,521 tonnes, to 1.08 million tonnes in May from 1.09 million tonnes previously while oleochemical exports increased 2.5 per cent to 227,043 tonnes.

Meanwhile, biodiesel exports surged 219.8 per cent to 13,568 tonnes in May from the preceding month’s 4,242 tonnes, exports of palm kernel cake rose 4.2 per cent to 177,877 tonnes from 170,772 tonnes previously, and palm kernel oil exports improved 6.1 per cent to 93,804 tonnes from 88,447 tonnes in April.

CPO imports remained nil in May, while total palm oil imports grew 87.7 per cent to 80,926 tonnes compared with the preceding month’s 43,118 tonnes. – Bernama

Source : The Star