Palm oil stocks down 4.64% in December

The MPOB said crude palm oil inventory decreased by 9.43% to 1.20 million tonnes last month from 1.32 million tonnes in November.

PETALING JAYA: Malaysia’s total palm oil stocks fell 4.64% to 2.29 million tonnes in December 2023 from 2.40 million tonnes in November, according to the Malaysian Palm Oil Board (MPOB).

In its latest industry performance report for December 2023, the MPOB said crude palm oil (CPO) inventory decreased by 9.43% to 1.20 million tonnes last month from 1.32 million tonnes in November.

Processed palm oil stocks rose 1.23% to 1.09 million tonnes in December from 1.08 million tonnes. CPO production fell 13.31% to 1.55 million tonnes in December from 1.79 million tonnes in November. — Bernama