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KUALA LUMPUR: Malaysia’s crude palm oil (CPO) stocks rose 2.63 per cent to 1.31 million tonnes in October 2022 from 1.28 million tonnes in the previous month on higher production, according to the Malaysian Palm Oil Board (MPOB).

In a statement today, it said processed palm oil inventory grew 5.11 per cent month-on-month (m-o-m) to 1.09 million tonnes from 1.04 million tonnes in September 2022.

"The total palm oil stocks expanded 3.74 per cent to 2.40 million tonnes from 2.32 million tonnes previously,” it said.

On production, MPOB said CPO output was 2.44 per cent higher at 1.81 million tonnes in October 2022 versus 1.77 million tonnes in September 2022.

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It said palm kernel output went up 2.73 per cent to 448,111 tonnes against 436,189 in the previous month while crude palm kernel oil increased 6.21 per cent to 201,216 tonnes versus 189,445 tonnes previously.

On palm oil exports, MPOB said it improved 5.66 per cent m-o-m to 1.50 million tonnes in October 2022 against 1.42 million tonnes previously while palm kernel oil exports went down 3.21 per cent m-o-m to 94,851 tonnes from 98,001 tonnes in the previous month.

"Oleochemical exports dwindled 4.23 per cent m-o-m to 227,281 tonnes from 237,313 tonnes previously while biodiesel exports fell 35.57 per cent m-o-m to 18,894 tonnes from 29,324 tonnes,” it said.

Meanwhile, MPOB said CPO imports in October 2022 rose 4.74 per cent m-o-m to 6,601 tonnes against 6,302 tonnes in the previous month while total palm oil imports contracted 49.85 per cent m-o-m to 66,349 tonnes from 132,303 tonnes in the preceding month. - Bernama


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