Oleochem Analytics — Malaysia’s end-August palm oil stocks jumped to the highest level in more than a year rising by 25.28% from the previous month to 1.87 million tons, data from industry regulator Malaysian Palm Oil Board (MPOB) showed on September 10.
This is the highest end-month stocks level since June 2020 for Malaysia, when they hit 1.89 million tons, according to MPOB data.
Crude palm oil production in August also climbed 11.80% from July to 1.7 million tons. Palm oil exports dwindled by 17.06% to 1.16 million tons, MPOB said.
MPOB said oleochemical exports fell by 8.40% in August to 224,354 tons from 244,940 tons the previous month. Biodiesel exports in August surged by 138.66% to 56,891 tons from 23,838 tons in July this year.