Palm oil stocks rise 8.79pc to 1.94m tonnes in August
Published on: Tuesday, September 12, 2017
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Kuala Lumpur: Malaysia's total palm oil stocks in August 2017 rose 8.79 per cent to 1.94 million tonnes from 1.78 million tonnes recorded in July.Crude palm oil (CPO) stocks also increased by 12.58 per cent to 1.06 million tonnes during the month in review from 938,502 tonnes registered in the preceding month. Stocks of processed palm oil increased 4.59 per cent to 885,430 tonnes from 846.580 tonnes, the Malaysian Palm Oil Board (MPOB) said in a statement Monday.

On production, it said CPO output contracted by 0.9 per cent to 1.81 million tonnes in August from 1.83 million tonnes recorded in the previous month.

Palm kernel output, however, rose 0.21 per cent to 449,131 tonnes in August versus July's production of 448,212 tonnes.

The MPOB said palm oil exports increased 6.43 per cent to 1.49 million tonnes in August from 1.40 million tonnes in July, while export of oleochemicals rose 16.16 per cent to 275,784 tonnes from 237,421 tonnes previously.

Palm kernel oil exports jumped 13.77 per cent to 92,317 tonnes from 81,145 tonnes recorded in the preceding month, but palm kernel cake fell 23.44 per cent to 165,071 tonnes from 215,607 tonnes before.

In August, biodiesel exports declined 75.53 per cent to 12,375 tonnes against July's 50,580 tonnes. – Bernama


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