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NewsUpdate Malaysian Jan palm oil stock falls 2.63% m-o-m, output down 9.57%
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Update Malaysian Jan palm oil stock falls 2.63% m-o-m, output down 9.57%
by Cals Mon 10 Feb 2014, 13:28
| Update Malaysian Jan palm oil stock falls 2.63% m-o-m, output down 9.57% |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Monday, 10 February 2014 13:17 |
KUALA LUMPUR (Feb 10): Malaysia's total palm oil inventory fell 2.63% in January 2014 from a month earlier on lower crude palm oil (CPO) output as exports of the commodity declined.
The Malaysian Palm Oil Board (MPOB) said in a statement on its website today that palm oil inventory comprising CPO and processed palm oil, fell 2.63% to 1.93 million tonnes in January 2014 from 1.99 million tonnes in December 2013.
"It (inventory) refers to the total physical amount of crude and processed palm oil kept at the premises of mills, refineries, bulking installations, and oleochemical plants as at 31 January 2014," MPOB said.
MPOB said CPO output declined 9.57% to 1.51 million tonnes from 1.67 million tonnes while palm oil exports decreased 9.93% to 1.37 million tonnes from 1.52 million tonnes.
MPOB's latest inventory figures compare with a median of 1.98 million tonnes obtained from a Reuters survey.
According to the survey, January output and exports were seen at 1.52 million tonnes and 1.35 million tonnes respectively.
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