Malaysia's total palm oil stocks dropped 11% to 2.01 million tonnes in December 2019 from 2.26 million tonnes recorded in the previous month., according to latest data from the Malaysian Palm Oil Board (MPOB).
Crude palm oil (CPO) stocks decreased by 11.58% to 1.02 million tonnes in December from 1.15 million tonnes in November, while processed palm oil stocks lost 10.38% to 987,579 tonnes from 1.1 million tonnes previously.
It also said CPO production depreciated 13.27% to 1.33 million tonnes in December from 1.54 million tonnes in November, while palm kernel output was 12.8% lower at 316,24 tonnes from 362,641 tonnes.
“Palm oil exports inched down 0.67% in December to 1.4 million tonnes from 1.41 million tonnes in November, while exports of oleo-chemicals declined 8.9% to 261,229 tonnes compared to 286,747 tonnes,” MPOB said.
Biodiesel exports in the month under review, however, surged 1.70% to 44,904 tonnes from 44,153 tonnes in the preceding month, while exports of palm kernel cake fell 7.53% to 205,07 tonnes from 221,772 tonnes.
Meanwhile, palm kernel oil exports went up by 2.83% in December 2019 to 92,431 tonnes from 89,886 tonnes in the preceding month, it said.