Malaysian palm oil exports increased marginally during September compared to August

10-Oct-2024 04:47 PM

Kuala Lumpur. The government body - Malaysian Palm Oil Board (Ampob) has released its official data for the month of September. In this, the figures of September have been compared with the figures of August.

According to the report, 15.30 lakh tonnes of palm oil products were exported from Malaysia in August, which improved by 10 thousand tonnes or 0.93 percent to 15.40 lakh tonnes in September.

According to Ampob, during September 2024, the production of crude palm oil (CPO) in Malaysia declined to around 18.20 lakh tonnes, which was 3.8 percent or 72 thousand tonnes less than the August production of about 18.90 lakh tonnes. During this period, the production of palm kernel also declined by 4.87 percent from 4.56 lakh tonnes to 4.34 lakh tonnes.

Malaysia is the second largest producer and exporter of palm oil in the world. There, the production of palm kernel oil was a little over 2.07 lakh tonnes in August,

which fell by 6.45 percent to around 1.94 lakh tonnes in September. Similarly, the production of palm kernel cake also fell by 5.34 percent from 2.27 lakh tonnes to 2.15 lakh tonnes.

But the stock increased. According to the report of Ampob, at the end of August, there was a stock of 9.53 lakh tonnes of CPO in Malaysia, which increased by 10.91 percent to 10.60 lakh tonnes at the end of September.

Similarly, the stock of processed or refined palm oil also improved by 2.85 percent from 9.30 lakh tonnes to around 9.57 lakh tonnes during the same period.

Thus, the total outstanding surplus stock of palm oil increased by 6.93 percent from 18.80 lakh tonnes in August to a high of 20.10 lakh tonnes at the end of September.

Exports of palm kernel oil rose sharply by 45.08 percent to reach above 1.26 lakh tons, while shipments of palm kernel cake also jumped 34 percent to reach 2.33 lakh tons. In September, CPO was not imported and imports of palm kernel oil also reached only about 11 thousand tons.