Malaysia's total palm oil stocks at the end of December 2018 rose by 6.92% to a record high of 3.22 million tonnes from 3.01 million tonnes in November, the Malaysian Palm Oil Board (MPOB) said in its latest report.
Crude palm oil (CPO) stocks increased 8.4% to 1.94 million tonnes during the month from 1.79 million tonnes in the preceding month.
Stocks of processed palm oil went up by 4.73% to 1.27 million tonnes from 1.22 million tonnes previously, MPOB said.
CPO production, however, fell 2.02% to 1.81 million tonnes in December from 1.85 million tonnes in the previous month.
Palm kernel output was also down by 1.15% to 446,528 tonnes in December versus November’s production of 451,724 tonnes.
The MPOB said palm oil exports improved 0.57% to 1.383 million tonnes in December from 1.375 million tonnes in November, while exports of oleochemicals rose 2.75% to 253,941 tonnes from 247,135 tonnes.
Biodiesel exports expanded 61.75% to 71,314 tonnes against November’s 44,091 tonnes, and exports of palm kernel cake rose 21.36% to 201,727 tonnes from 166,217 tonnes.
In December, palm kernel oil exports declined by 38.59% to 61,218 tonnes from 99,684 tonnes in the preceding month.