Malaysia's palm oil stocks fall 4.64 pct to 2.29 mln tonnes in December

In its latest industry performance report for December 2023, the MPOB said crude palm oil (CPO) inventory decreased by 9.43 per cent to 1.20 million tonnes last month from 1.32 million tonnes in November.

Meanwhile, processed palm oil stocks increased by 1.23 per cent to 1.09 million tonnes in December from 1.08 million tonnes previously.

CPO production fell 13.31 per cent to 1.55 million tonnes in December from 1.79 million tonnes in the previous month, and palm kernel output went down by 14.00 per cent to 371,202 tonnes from 431,641 tonnes earlier.

The MPOB said palm oil exports slipped by 5.12 per cent, or 72,021 tonnes, to 1.33 million tonnes in December from November's 1.41 million tonnes, and oleochemical exports slipped by 5.38 per cent to 245,048 tonnes.

Biodiesel exports dropped 0.76 per cent to 17,834 tonnes in December from 17,971 tonnes in the preceding month.

Exports of palm kernel cake were down 33.77 per cent to 178,436 tonnes last month, while palm kernel oil exports were 11.53 per cent lower to 88,261 tonnes from 99,768 tonnes in November.

CPO imports stood at 11,103 tonnes in December, while total palm oil imports dropped 7.87 per cent to 36,573 tonnes compared with 39,696 tonnes in the previous month.

-- BERNAMA