Malaysian crude palm oil (CPO) stocks for December 2021 fell 11.89% to 830,339 tonnes from 942,354 tonnes in the previous month on lower production and export, the Malaysian Palm Oil Board (MPOB) said.
The world’s second-largest palm oil producer’s end-December processed palm oil inventory also declined 13.95% month-on-month (m-o-m) to 752,701 tonnes from 874,707 tonnes, an MPOB statement said on Monday (Jan 10).
The MPOB said overall, stocks slipped 12.88% to 1.58 million tonnes from 1.82 million tonnes previously.
As for production, CPO output decreased 11.26% to 1.45 million tonnes from 1.63 million tonnes in November.
Palm kernel output dropped 9.8% to 350,493 tonnes from 388,562 tonnes in the preceding month, the board said, adding that crude palm kernel oil production was 6.15% lower at 168,529 tonnes from 179,565 tonnes in November.
Meanwhile, the MPOB said palm oil exports was down by 3.48% m-o-m to 1.41 million tonnes in December versus 1.47 million tonnes in November, while palm kernel oil exports dropped 23.31% m-o-m to 94,329 tonnes versus 123,005 tonnes a month ago.
Oleochemical exports also inched down 1.71% m-o-m to 241,088 tonnes from 245,273 tonnes while biodiesel exports shrank 76.55% m-o-m to 13,371 tonnes from 57,033 tonnes,” it said.