KUALA LUMPUR: Malaysia's crude palm oil (CPO) stocks for July 2022 rose 2.79 per cent to 905,946 tonnes from 881,315 tonnes recorded in the previous month, according to the Malaysian Palm Oil Board (MPOB).
Processed palm oil inventory went up 13.39 per cent month-on-month (m-o-m) to 866,848 tonnes from 764,516 tonnes, it said.
"Overall, palm oil stocks increased 7.71 per cent to 1.77 million tonnes from 1.65 million tonnes previously," MPOB said in its industry performance report for July 2022.
As for production, it said CPO output increased by 1.84 per cent to 1.57 million tonnes in July versus 1.55 million tonnes in June.
It said palm kernel output rose 1.39 per cent to 383,669 tonnes from 378,413 tonnes in the preceding month, while crude palm kernel oil production was 2.78 per cent higher at 180,612 tonnes against 175,731 tonnes in June.
Meanwhile, MPOB said that palm oil export rose by 10.72 per cent m-o-m to 1.32 million tonnes in July from 1.19 million tonnes in June while palm kernel oil export declined by 18.93 per cent m-o-m to 74,689 tonnes from 92,130 tonnes in the preceding month.
"Oleochemical export went up 4.47 per cent in July to 221,343 tonnes from 211,881 tonnes in June, while biodiesel export fell 39.21 per cent m-o-m to 14,401 tonnes from 23,689 tonnes previously," it said.
The agency said Malaysia's import of CPO in July 2022 fell 88.10 per cent to 356 tonnes compared with 2,989 tonnes imported in June, and total palm oil imports surged 120.65 per cent to 130,615 tonnes from 59,195 tonnes in the preceding month.