KUALA LUMPUR – Malaysia’s total palm oil stocks dropped by 6.56% to 2.11 million tonnes in February 2023 from 2.26 million tonnes recorded in the preceding month, said the Malaysian Palm Oil Board (MPOB).
In a statement today, MPOB said crude palm oil (CPO) stocks decreased by 7.69% to 1.16 million tonnes in February from 1.25 million tonnes in January, while processed palm oil stocks lost 5.15% to 959,451 tonnes from 1.01 million tonnes previously.
It said CPO production depreciated 9.35% to 1.25 million tonnes in February from 1.38 million tonnes in January, while palm kernel output was 7.10% lower at 316,196 tonnes from 340,369 tonnes.
“Palm oil exports also eased 1.99% in February to 1.11 million tonnes from 1.13 million tonnes in January, while exports of oleo-chemicals rose 8.13% to 228,088 tonnes compared with 210,936 tonnes,” it said.
MPOB said biodiesel exports in the month under review increased 3.23% to 14,699 tonnes from 14,239 tonnes in the preceding month, while exports of palm kernel cake added 4.04% to 210,612 tonnes from 202,431 tonnes.
Meanwhile, it said palm kernel oil exports went down 3.57% in February to 59,888 tonnes from 62,102 tonnes in the preceding month. – Bernama, March 10, 2023
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