Palm oil stocks in Malaysia fell to 1.67M tonnes in March from 2.12M tonnes the previous month – a drop of more than 20%, news service Bernama reported on 10 April.
According to the Malaysian Palm Oil Board (MPOB)’s industry performance report for March, crude palm oil (CPO) stocks dropped by 23.16% to 891,653 tonnes from the 1.16M tonnes recorded in February.
Processed palm oil stocks declined by 18.56% to 781,391 tonnes from 959,451 tonnes recorded the previous month.
However, CPO production increased by 2.77% to 1.29M tonnes in March from 1.25M tonnes the previous month, while palm kernel output gained 2.20% to 323,743 tonnes from 316,781 tonnes.
“Palm oil exports increased by 31.76% in March to 1.49M tonnes from 1.13M tonnes in February while exports of oleochemicals appreciated by 14.28 tonnes to 261,049 tonnes,” the MPOB was quoted as saying.
MPOB said biodiesel exports increased by 118.56% in March to 32,127 tonnes from the previous month’s volume of 14,699 tonnes while exports of palm kernel cake dropped by 7.93% to 193,093 tonnes.
Palm kernel exports increased by 39.43% in March to 83,503 tonnes from 59,888 tonnes the previous month.
CPO imports in March remained at 5,895 tonnes while total palm oil imports dropped by 24.25% month-on-month to 39,772 tonnes.