Malaysia's Palm Oil stocks at the end of July rose 1.26% to 2.214 million tonnes from 2.187 million tonnes in June, the Malaysian Palm Oil Board (MPOB) said in its latest report.
Crude palm oil (CPO) stocks also increased slightly by 0.80% to 1.224 million tonnes during the month from 1.215 million tonnes in the preceding month.
Stocks of processed Palm Oil grew 1.84% to 989,642 tonnes from 971,796 tonnes previously, MPOB said.
CPO production rose 12.79% to 1.503 million tonnes in July from 1.332 million tonnes in the previous month.
Palm kernel output was also up by 14.41% to 361,220 tonnes in July versus June’s production of 315,731 tonnes.
The MPOB said Palm Oil export increased 6.75% to 1.205 million tonnes in July from 1.129 million tonnes in June, while export of oleochemical rose 14.38% to 264,706 tonnes from 231,430 tonnes previously.
Palm kernel oil export expanded by 1.80% to 74,696 tonnes from 73,378 tonnes in the preceding month, but export of palm kernel cake fell 25.35% 150,521 tonnes from 201,625 tonnes before.
In July, biodiesel export surged 58.51% to 66,197 tonnes against June’s 41,762 tonnes.