Impressive 12.6% Increase in May 2023 Palm Oil Stock in Malaysia

Doc., KUALA LUMPUR – Palm oil stock in Malaysia experienced a significant surge in May 2023, with a 12.6% increase from the previous month. The total stock reached 1.69 million tons compared to 1.50 million tons in April.

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According to the Malaysian Palm Oil Board (MPOB), the stock of crude palm oil (CPO) in Malaysia rose by 10.7% to reach 921,800 tons in May 2023, compared to 832,966 tons in April. Furthermore, derivative products also witnessed a notable increase of 15.1%, totaling 764,982 tons in May compared to 664,651 tons in April.

Still from MPOB, CPO production escalated 26,8% to be 1,52 million tons in Mei while in April it reached 1,20 million tons, palm kernel export increased 25,1% to be 367.689 tons from 293.919 tons.

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MPOB continued Malaysia CPO exports decreased only 0,8%, or about 8.521 tons, to be 1,08 million tons in May while in April they reached 1,09 million tons. Oleo-chemical exports increased 2,5% to be 227.043 tons.

As quoted from Bernama, biodiesel exports increased 219,8% to be 13.568 tons in May from 4.242 tons in April; palm cake export increased 4,2% to be 177.877 tons from the previous month that reached 170.772 tons. Palm kernel oil exports increased 6,1% to be 93.804 tons while in April they reached about 88.447 tons. (T2)

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