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Malaysian CPO stocks up 9.76 pct in January

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KUALA LUMPUR: The Malaysian crude palm oil (CPO) stocks rose 9.76 per cent to 640,781 tonnes in January 2021 from 583,811 tonnes in December 2020, according to the Malaysian Palm Oil Board (MPOB).

The processed palm oil stocks, however, only grew by 0.34 per cent month-on-month (m-o-m) to 684,182 tonnes from 681,887 tonnes previously, MPOB said in its monthly palm oil industry performance report for January 2021.

Overall, it said total palm oil stocks increased by 4.68 per cent m-o-m to 1.32 million tonnes from 1.26 million tonnes previously.

However, the MPOB noted that January 2021’s production slid 15.52 per cent to 1.12 million tonnes versus 1.33 million tonnes in December 2020.

It said palm kernel output was 10.72 per cent m-o-m lower at 276,957 tonnes from 310,213 tonnes previously, and crude palm kernel oil stocks went down 9.01 per cent m-o-m to 128,809 tonnes from 141,567 in December 2020.

Meanwhile, it said palm oil exports in January 2021 dropped 42.33 per cent to 947,395 tonnes from 1.64 million tonnes in December 2020, and oleochemical exports slipped by 2.13 per cent m-o-m to 241,897 tonnes compared to 247,171 tonnes previously.

Additionally, the MPOB said biodiesel exports in the month under review plummeted 76.51 per cent m-o-m to 10,081 tonnes from 42,913 tonnes previously, and palm kernel oil exports depreciated 57.11 per cent m-o-m to 62,432 tonnes from 145,551 tonnes in the preceding month.

It said exports of palm kernel cake decreased marginally by 0.79 per cent m-o-m to 166,881 tonnes in January 2021 from 168,208 tonnes previously, while CPO imports fell sharply by 88.45 per cent to 13,903 tonnes from 120,337 tonnes.

It added that the total palm oil imports were 41.43 per cent lower at 165,198 tonnes in January 2021 from 282,058 tonnes in December 2020. – Bernama

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