Palm Oil Stocks Up 13.25% In August 2022

palm oil

KUALA LUMPUR (B – Trams): Malaysia’s crude palm oil (CPO) stocks for August 2022 increased by 13.25 per cent to 1.02 million tonnes from 905,946 tonnes in July, according to the Malaysian Palm Oil Board (MPOB).

Additionally, processed palm oil inventory rose 23.29 per cent month-on-month (m-o-m) to 1.07 million tonnes from 866,858 tonnes previously, it said in a statement on the Malaysian palm oil industry’s performance for August 2022.

“Overall, palm oil stocks increased 18.16 per cent m-o-m to 2.09 million tonnes from 1.77 million tonnes previously,” MPOB said.

As for production, it said CPO output increased by 9.67 per cent to 1.72 million tonnes in August versus 1.57 million tonnes in July.

It said palm kernel output was up by 10.57 per cent m-o-m to 424,234 tonnes from 383,669 tonnes in the preceding month, while crude palm kernel oil production was 5.94 per cent higher at 191,347 tonnes against 180,612 tonnes in July.

Meanwhile, the MPOB said that palm oil export eased by 1.94 per cent m-o-m to 1.30 million tonnes from 1.32 million tonnes in July, while palm kernel oil export improved by 32.58 per cent m-o-m to 101,674 tonnes from 76,689 tonnes previously.

“Oleochemical export declined 3.03 per cent in August to 214,721 tonnes from 221,424 tonnes in July, while biodiesel export was up 82.23 per cent m-o-m to 26,244 tonnes from 14,401 tonnes previously,” it said.

The agency said Malaysia’s CPO import in August 2022 surged 135.14 per cent to 836 tonnes from 356 tonnes in July, while processed palm oil imports increase 11.02 per cent m-o-m to 144,616 tonnes, and total palm oil imports rose 11.36 per cent m-o-m to 145,452 tonnes.

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