Palm oil stocks in Malaysia decreased by more than 1% in November

According to the Malaysian Palm Oil Board (MPOB), total palm oil stocks in Malaysia decreased by 1.09% to 2.42 million tons in November from 2.45 million tons in October.

In its latest industry performance report for November 2023, MPOB reported that crude palm oil (CPO) stocks fell 3.89% to 1.34 million tons last month from 1.39 million tons in October.

CPO production decreased by 7.66% to 1.79 million tons in November from 1.94 million tons in the previous month, while palm kernel production decreased by 8.04% to 431,641 tons from 469,404 tons earlier.

MPOB reported that palm oil exports decreased by 5.67%, or 83,965 tons, to 1.39 million tons in November from 1.48 million tons earlier, while oleochemical exports increased by 86.76% to 495,141 tons.

Biodiesel exports decreased by 65.08% to 17,971 tons in November from 51,462 tons in the previous month.

Exports of palm kernel cake increased by 63.76% to 284,031 tons last month, while exports of palm kernel oil increased by 9.67% to 99,768 tons from 90,972 tons in October.

In November, there were no CPO imports, while total palm oil imports decreased by 16.53% to 39696 tons from 47557 tons in the previous month.

Tags: Malaysia, palm oil, stocks