According to the MPOB (Malaysian Palm Oil Board), the nation’s crude palm oil (CPO) stocks for June 2022 rose 6.19% to 881,299 tonnes from 829,915 tonnes recorded in the previous month.
Meanwhile, processed palm oil inventory went up 11.83% month-on-month (m-o-m) to 773,774 tonnes from 691,911 tonnes.
As for production, CPO output increased by 5.76% to 1.545 million tonnes against 1.461 million tonnes in May.
Overall, palm oil stocks added 8.76% to 1.66 million tonnes from 1.52 million tonnes previously.
Palm kernel output perked up 6.62% to 378,418 tonnes from 354,912 tonnes in the preceding month, it said, adding that crude palm kernel oil production was 10.94% higher at 175,731 tonnes from 158,408 tonnes in May.
Meanwhile, palm oil export declined 13.26% m-o-m to 1.194 million tonnes in June from 1.376 million tonnes, while palm kernel oil exports rose 13.24% to 92,130 tonnes from 81,356 tonnes in the preceding month, according to MPOB.
“Oleochemical exports dropped 2.72% m-o-m to 210,924 tonnes from 216,816 tonnes while biodiesel exports fell 48.89% m-o-m to 23,689 tonnes from 46,345 tonnes,” it said.
The import of CPO in June 2022 slipped 0.04% to 2,989 tonnes compared with 2,990 tonnes imported in May, while total palm oil imports added 2.48% to 59,195 tonnes from 57,763 tonnes in the preceding month.
