KUALA LUMPUR, Aug 12 — Malaysia’s palm oil exports surged 39.92 per cent to 1.69 million tonnes in July 2024 from 1.21 million tonnes in June 2024, according to the Malaysian Palm Oil Board (MPOB).
Oleochemical exports also rose by 24.91 per cent month-on-month (m-o-m) to 270,073 tonnes in July from 216,219 tonnes previously, the MPOB said in its Malaysian Palm Oil Industry’s Performance report for July 2024.
“Palm kernel oil export went up 18.94 per cent m-o-m to 109,908 tonnes from 92,403 tonnes in June, while export of palm kernel cake rose 1.85 per cent m-o-m to 217,365 tonnes in July from 213,418 tonnes the previous month.
“However, biodiesel exports were down by 28.86 per cent m-o-m to 10,345 tonnes in July against 14,542 tonnes in June,” it said.
MPOB said palm oil stocks fell by 5.35 per cent m-o-m to 1.73 million tonnes in July 2024 from 1.83 million tonnes in June 2024.
“The country’s crude palm oil (CPO) stocks dropped 0.36 per cent m-o-m to 921,859 tonnes in July from 925,165 tonnes recorded in June and processed palm oil stocks also decreased by 10.45 per cent m-o-m to 811,360 tonnes from 906,074 tonnes previously,” it noted.
At the same time, CPO production rose by 13.97 per cent m-o-m to 1.84 million tonnes from 1.62 million tonnes in June, while palm kernel output was up by 16.17 per cent m-o-m to 427,342 tonnes from 367,852 tonnes in June.
Palm kernel oil imports surged 101.63 per cent m-o-m to 22,611 tonnes from 11,214 tonnes in June, while CPO imports stood at 504 tonnes.
“Total processed palm oil imports declined by 14.98 per cent m-o-m to 9,979 tonnes in July from 11,738 tonnes in the previous month, while palm oil imports slid 10.69 per cent m-o-m to 10,483 tonnes in July from 11,738 tonnes previously,” it added. — Bernama
