March CPO stocks rises 7.02% to 1.87 mln tonnes

Malaysia's crude palm oil stocks (CPO) stocks rose 7.02 per cent to 1.87 million tonnes at end-March 2015 against 1.74 million tonnes recorded in the previous month. In a statement today, the Malaysian Palm Oil Board (MPOB) said processed palm oil grew by 20.83 per cent to 958,156 tonnes for the month under review. It said palm kernel stocks increased by 0.43 per cent to 136,083 tonnes and crude palm kernel oil surged by 30.20 per cent to 133,995 tonnes. Processed palm kernel oil stocks fell by seven per cent to 104,418 tonnes in March and palm kernel cake stocks was 10.46 per cent lower at 230,703 tonnes, it said. MPOB said the CPO production in March improved 33.27 per cent to 1.49 million tonnes against 1.12 million tonnes the previous month. Palm kernel production rose 35.78 per cent to 379,249 tonnes, while crude palm kernel oil output was 53.09 per cent better at 176,111 tonnes and palm kernel cake production increased 51.10 per cent to 194,236 tonnes, it said. It said palm oil exports rose by 21.52 per cent to 1.18 million tonnes in March against 972,646 tonnes in February 2015. Biodiesel exports declined by 96.78 per cent to 824 tonnes from the previous month, it said. MPOB said CPO imports in March dropped by 62.98 per cent to 13,499 tonnes and that of processed palm oil inched up 3.78 per cent to 28,075 tonnes compared with February.