MALAYSIA’S total palm oil stocks rose 18.26% month-on-month (mom) to 2.05 million tonnes in April 2020 from 1.73 million tonnes in March 2020.
The Malaysian Palm Oil Board (MPOB) in a statement today said crude palm oil (CPO) stock also jumped 26.03% mom in April to 1.05 million tonnes from 829,649 tonnes previously.
Meanwhile, processed palm oil stock was up by 11.09% mom to 999,744 tonnes during the month from 899,931 tonnes earlier, while CPO production increased by 18.28% mom to 1.65 million tonnes from 1.40 million tonnes.
Palm kernel output was 17.53% mom higher at 412,597 tonnes from 351,058 tonnes.
The MPOB said palm oil exports strengthened 4.38% mom in April 2020 to 1.24 million tonnes from 1.18 million tonnes.
However, exports of palm kernel cake declined 24.80% mom to 167,510 tonnes from 222,753 tonnes, while biodiesel exports for the month under review fell 90.59% mom to 6,427 tonnes from 68,324 tonnes.
Palm kernel oil exports firmed 8.57% mom in April 2020 to 84,118 tonnes and exports of oleochemical also increased 3.90% mom to 271,275 tonnes.
The MPOB said CPO imports, however, went down 73.17% to 7,416 tonnes during the month from 27,637 tonnes in March.
Meanwhile, total palm oil imports slipped 28.55% to 56,596 tonnes from 79,216 tonnes previously, it added. — May 12, 2020, Bernama
