Malaysian crude palm oil (CPO) stocks for November 2021 fell 4.45 per cent to 942,354 tonnes from 986,239 tonnes recorded in the previous month on lower production while exports were higher, the Malaysian Palm Oil Board (MPOB) said today.
It said the world’s second-largest palm oil producer’s end-November processed palm oil inventory improved 3.09 per cent month-on-month (m-o-m) to 874,525 tonnes from 848,329 tonnes.
In a statement, MPOB said overall, palm oil stocks slipped 0.96 per cent to 1.82 million tonnes from 1.83 million tonnes previously.
As for production, CPO output decreased 5.27 per cent to 1.63 million tonnes against 1.72 million tonnes in October.
The output of palm kernel dropped 5.89 per cent to 388,562 tonnes from 412,882 tonnes in the preceding month, it said, adding that crude palm kernel oil production was 7.79 per cent lower at 179,565 tonnes from 194,736 tonnes in October.
Meanwhile, MPOB said that palm oil exports rose 3.30 per cent m-o-m to 1.46 million tonnes in November versus 1.42 million tonnes in October, while palm kernel oil exports jumped 30.44 per cent m-o-m to 123,005 tonnes compared with the 94,302 tonnes in the preceding month.
“Oleochemical exports also inched up 3.42 per cent m-o-m to 254,424 tonnes from 246,014 tonnes while biodiesel exports soared 160.22 per cent m-o-m to 49,973 tonnes from 19,204 tonnes,” it said. – Bernama