Malaysia’s end-August palm oil stocks jump to seven-month high
Malaysia’s palm oil stocks at the end of August rose to their highest since January, higher than market expectations, data from the Malaysian Palm Oil Board (MPOB) showed on Monday.
Inventories jumped 22.5% in the world’s second-largest producer of the commodity to 2.12 million tonnes, the data showed.
Crude palm oil production gained 8.9% from July to 1.75 million tonnes in August, while palm oil exports fell 9.78% to 1.22 million tonnes, MPOB said.
Following is a breakdown of the Malaysian Palm Oil Board figures for August (volumes in tonnes):
|
|
August 2023 |
August 2023 poll |
July 2023* |
August 2022 |
|
Output |
1,753,472 |
1,720,000 |
1,609,977 |
1,725,781 |
|
Stocks |
2,124,963 |
1,891,321 |
1,734,157 |
2,094,667 |
|
Exports |
1,221,814 |
1,330,000 |
1,354,336 |
1,299,654 |
|
Imports |
110,621 |
100,000 |
103,837 |
145,452 |
*indicates revised figures by the Malaysian Palm Oil Board
Read also
Missed BLACK SEA GRAIN? Get Full Access to Conference Insights!
For Ukrainian soybean producers, the domestic market is becoming more profitable t...
Canada’s Wheat Production to Drop 10% in MY 2026/27
Russia begins nationalization of one of its largest agricultural holdings
Brazil plans to increase the share of ethanol in gasoline to 32%
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon