Malaysia's Palm Oil Exports Climb 0.93% To 1.54 Mln Tonnes In September - MPOB

The Malaysian Palm Oil Board (MPOB) reported that palm oil exports in September 2024 saw a marginal increase of 0.93% to 1.54 million tonnes from 1.53 million tonnes in August 2024.

It said Malaysia's crude palm oil (CPO) production dropped 3.8%, or 71,926 tonnes, to 1.82 million tonnes in September 2024, from 1.89 million tonnes in August.

Palm kernel output eased by 4.87% month-on-month to 433,785 tonnes in September from 455,976 tonnes previously, MPOB said in its report on the palm oil industry's performance for September.

The production of crude palm kernel oil output was down by 6.45% to 193,836 tonnes from 207,194 tonnes in August, while palm kernel cake fell by 5.34% to 215,166 tonnes from 227,302 tonnes previously.

In terms of inventory, the agency reported that CPO stocks rose by 10.91% to 1.06 million tonnes against 953,145 tonnes in August.

Processed palm oil stockpiles gained 2.85% to 956,726 tonnes from 930,069 tonnes in the preceding month, while total palm oil stocks climbed 6.93% to 2.01 million tonnes from 1.88 million tonnes in August.

MPOB noted a significant surge in palm kernel oil exports, which jumped 45.06% to 126,446 tonnes in September from August. Palm kernel cake exports bounced 33.99% to 232,944 tonnes in September from August.

However, oleochemical exports declined by 5.72% to 257,825 tonnes from 273,395 tonnes in August, and biodiesel exports fell sharply by 43.95% to 16,793 tonnes from August's 29,963 tonnes.

MPOB reported that CPO imports remained at zero while palm kernel oil imports slid 20.68% to 10,887 tonnes from August.