CPO stocks up 2.8% in July — MPOB

Malaysia’s crude palm oil (CPO) stocks rose 2.79% to 905,946 tonnes in July, from 881,315 tonnes in the previous month, according to the Malaysian Palm Oil Board (MPOB).

The processed palm oil inventory went up 13.39% month-on-month (m-o-m) to 866,848 tonnes, from 764,516 tonnes, it said.

“Overall, palm oil stocks increased 7.71% to 1.77 million tonnes, from 1.65 million tonnes previously,” the MPOB said in its industry performance report for July.

As for production, it said CPO output increased by 1.84% to 1.57 million tonnes in July, versus 1.55 million tonnes in June.

It said palm kernel output rose 1.39% to 383,669 tonnes, from 378,413 tonnes in the preceding month, while crude palm kernel oil production was 2.78% higher at 180,612 tonnes, against 175,731 tonnes in June.

Meanwhile, the MPOB said that palm oil exports rose by 10.72% m-o-m to 1.32 million tonnes in July, from 1.19 million tonnes in June, while palm kernel oil exports declined by 18.93% m-o-m to 74,689 tonnes, from 92,130 tonnes in the preceding month.

“Oleochemical exports went up 4.47% to 221,343 tonnes in July, from 211,881 tonnes in June, while biodiesel exports fell 39.21% m-o-m to 14,401 tonnes, from 23,689 tonnes previously,” it said.

The agency said Malaysia’s imports of CPO fell 88.1% to 356 tonnes in July, compared with 2,989 tonnes in June, while total palm oil imports surged 120.65% to 130,615 tonnes, from 59,195 tonnes in the preceding month.

Tags: Malaysia, stocks, output, CPO, inventory, processed palm oil, palm kernel, exports, MPOB, Crude palm oil, Production