Oct palm oil stocks up at 2.19 million tonnes

KUALA LUMPUR: Malaysia’s palm oil stocks in October 2017 rose 8.39 per cent to 2.19 million tonnes from 2.02 million tonnes recorded in September.

Crude palm oil (CPO) stocks increased 15.38 per cent to 1.23 million tonnes, in the month in review, from 1.07 million tonnes registered in the previous month, according to preliminary figures released by the Malaysian Palm Oil Board (MPOB).

Stocks of processed palm oil gained a marginal 0.58 per cent to 959,251 tonnes against the preceding month’s 953,689 tonnes.

CPO production appreciated 12.86 per cent to 2.0 million tonnes in October from 1.78 million tonnes recorded previously.

The board also said palm kernel output rose 12.90 per cent to 498,968 tonnes in October versus September’s production of 441,950 tonnes.

MPOB, in a statement, also said palm oil exports increased 2.04 per cent to 1.55 million tonnes in October versus September’s 1.52 million tonnes while export of oleochemicals rose 8.48 per cent to 255,042 tonnes.

Palm kernel oil exports increased 5.01 per cent to 93,228 tonnes but that for palm kernel cake slipped 31.69 per cent to 143,195 tonnes. In October, biodiesel exports also declined 33.61 per cent to 5,572 tonnes. — Bernama

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