Malaysian CPO stocks continue to rise in February - MPOB

However, processed palm oil stocks declined 5.76 per cent month-on-month (m-o-m) to 644,761 tonnes from 684,191 tonnes, the agency said in its monthly palm oil industry performance report for February 2021.

Overall, total palm oil stocks decreased 1.80 per cent m-o-m to 1.30 million tonnes from 1.32 million tonnes previously.

MPOB noted that CPO production slid 1.85 per cent to 1.11 million tonnes versus 1.13 million tonnes in January.

It said palm kernel output was 1.94 per cent lower at 271,623 tonnes versus 277,001 tonnes in the preceding month while crude palm kernel oil stocks went down 4.25 per cent m-o-m to 123,336 tonnes from 128,809 tonnes previously.

Meanwhile, it said palm oil exports in February dropped 5.49 per cent to 895,556 tonnes from 947,539 tonnes in January and palm kernel oil exports declined 7.32 per cent m-o-m to 64,317 tonnes from 69,397 tonnes in the preceding month.

MPOB said oleochemical exports increased 5.60 per cent m-o-m to 257,222 tonnes from 243,584 tonnes, while biodiesel exports in the month under review soared 179.79 per cent m-o-m to 28,206 tonnes from 10,081 tonnes previously.

It said CPO imports fell sharply by 48.64 per cent to 7,140 tonnes from 13,903 tonnes and total palm oil imports was 47.14 per cent lower at 87,326 tonnes against 165,198 tonnes in January.