malaysiang
KUALA LUMPUR, Malaysia’s crude palm oil (CPO) production increased by 2.9 per cent to 1.89 million tonnes in August 2024 from 1.84 million tonnes in July 2024, according to the Malaysian Palm Oil Board (MPOB).
Palm kernel output also rose by 6.7 per cent month-on-month (m-o-m) to 455,976 tonnes in August from 427,342 tonnes previously, the agency said in its latest report on the palm oil industry’s performance.
Production of crude palm kernel oil output edged up 0.7 per cent to 207,194 tonnes from 205,829 tonnes in July, while that of palm kernel cake grew by 0.3 per cent to 227,302 tonnes from 226,647 tonnes previously.
In terms of inventory, MPOB disclosed that CPO stocks rose by 2.5 per cent to 953,145 tonnes against 930,099 tonnes in July.
Processed palm oil stockpile surged 12.8 per cent to 930,069 tonnes from 824,285 tonnes in the preceding month, while total palm oil stock climbed 7.3 per cent to 1.88 million tonnes from 1.75 million tonnes.
On exports, MPOB said palm oil exports fell 9.7 per cen
t to 1.53 million tonnes from 1.69 million tonnes in July.
Palm kernel oil exports declined by 20.7 per cent to 87,167 tonnes from July’s 109,908 tonnes, while palm kernel cake exports slid by 20 per cent to 173,845 tonnes in August against 217,365 tonnes in July.
Meanwhile, the export of biodiesel almost tripled to 29,963 tonnes from July’s 10,345 tonnes, and oleochemical exports edged up by 1.2 per cent to 273,395 tonnes from 270,156 tonnes.
Regarding imports, MPOB said CPO imports fell to zero from 504 tonnes in July.
The import of processed palm oil also dropped by 0.1 per cent to 9,970 tonnes from 9,979 tonnes in July.
Total palm oil imports decreased by 4.9 per cent to 9,970 tonnes from 10,483 tonnes.
Total palm kernel oil imports weakened by 39.3 per cent to 13,726 tonnes from 22,611 tonnes in July.
Source: BERNAMA News Agency
