Malaysia end-Jan palm oil stocks fall 11.83%, says MPOB

Credit: REUTERS/HASNOOR HUSSAIN

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KUALA LUMPUR, Feb 13 (Reuters) - Malaysia's palm oil stocks at the end of January fell 11.83% from the previous month to 2.02 million metric tons, more than expected, data from industry regulator the Malaysian Palm Oil Board (MPOB) showed on Tuesday.

Crude palm oil production declined 9.59% from December to 1.40 million tons in January, while palm oil exports dropped 0.85% to 1.35 million tons, MPOB said.

A Reuters survey forecast January's inventories at 2.14 million tons, a 6.62% decline from the previous month, with output at 1.37 million tons and exports at 1.22 million tons.

Following is a breakdown of the MPOB figures and Reuters estimates for January (volumes in tons) PALM/POLL:

January 2024

January 2024 poll

December 2023*

January 2023

Output

1,402,020

1,367,351

1,550,797

1,380,410

Stocks

2,019,781

2,139,592

2,291,167

2,268,198

Exports

1,350,574

1,219,007

1,362,145

1,135,498

Imports

29,494

40,000

40,062

144,937

*indicates revised figures by the Malaysian Palm Oil Board

(Reporting by Danial Azhar; Editing by Kanupriya Kapoor)

((danial.azhar@thomsonreuters.com ; Twitter: https://twitter.com/dan_azh ;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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