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Informist, Tuesday, Sep 10, 2024

 

--Malaysia palm oil board: Aug CPO output up 2.9% on mo at 1.89 mln tn 

--Malaysia palm oil board: Aug palm oil export 1.53 mln tn, dn 9.7% MoM 

--Malaysia board: Aug-end palm oil stock up 7.3% MoM at 1.88 mln tn 

 

MUMBAI – Production of crude palm oil in Malaysia rose 2.9% on month to 1.89 mln tn in August, according to preliminary data from the Malaysian Palm Oil Board.

 

"The production usually peaks during Aug-Oct, driven by a rise in fresh fruit bunch production during these months, leading to higher crude palm oil yields," said Indrajit Paul, head of research at Agrocorp International. Fresh Fruit Bunch refers to the cluster of fruits harvested from the oil palm tree. Each fresh fruit bunch contains numerous individual fruits, known as palm fruits or oil palm kernels, which are the primary source of palm oil and palm kernel oil, he added.

 

Production during Aug-Oct accounts for approximately 30% of Malaysia's annual crude palm oil output. Oil palm trees have a seasonal fruiting pattern, with peak production often occurring during the second half of the year. The fruit bunches, which are harvested to extract palm oil, are abundant in these months. 

 

Exports of palm oil in August declined 9.7% on month to 1.53 mln tn. This is largely due to reduced shipments to key markets such as India, the European Union, and China, Paul said. However, biodiesel exports rose 189.6% on month to 29,963 tn, the data showed. Palm oil is also used to make biofuel.

 

Total stocks of palm oil in the country rose 7.3% on month to 1.88 mln tn in August, reflecting increased production and sluggish exports. 

 

Malaysia is the world's second-largest producer of crude palm oil, and India is the largest consumer of edible oils. 

 

The following table details Malaysia's palm oil output, exports, and stocks for August compared with the previous month:

 

	Commodity	August (in tn)	July (in tn)	MoM change (in %)
Production	Crude Palm Oil	1,893,859	1,840,999	2.9
Exports	Palm oil	1,525,115	1,689,710	(-)9.7
	Biodiesel	29,963	10,345	189.6
Stocks	Crude Palm Oil	953,145	930,099	2.5
	Processed Palm Oil	930,069	824,285	12.8
	Total Palm Oil	1,883,214	1,754,384	7.3

 

End

 

Reported by Anjali Lavania

Edited by Akul Nishant Akhoury

 

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