KUALA LUMPUR – Malaysia’s crude palm oil (CPO) stocks slumped 19.2% to 583,761 tonnes in December 2020 from the 722,451 tonnes recorded the month prior, said the Malaysian Palm Oil Board (MPOB).
Processed palm oil stocks shrank 18.85% month-on-month (m-o-m) to 681,120 tonnes from 839,307 tonnes previously, said the board in its monthly report on the palm oil industry’s performance.
During the month under review, CPO production slid 10.59% m-o-m to 1.33 million tonnes from 1.49 million tonnes previously, while palm kernel output was 11.41% lower at 310,204 tonnes from 350,144 tonnes.
“Palm oil exports gained 24.66% to 1.62 million tonnes in December 2020 versus 1.3 million tonnes the previous month, while oleochemical exports slipped 5.91% to 246,844 tonnes from 262,392 tonnes,” said MPOB.
Meanwhile, biodiesel exports in the month under review jumped 111.34% to 42,913 tonnes from 20,305 tonnes, while palm kernel oil exports added 58.64% to 145,551 tonnes from 91,747 tonnes.
Exports of palm kernel cake decreased 22.75% to 168,208 tonnes in December from 217,753 tonnes the month before. – Bernama, January 11, 2021
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