Malaysia’s palm oil stockpile in November this year grew 16% to 2.56 million tonnes from 2.2 million tonnes in October, data from the Malaysian Palm Oil Board (MPOB) showed.
As for crude palm oil (CPO), the country’s total inventory stood at 1.49 million tonnes, 21% higher than the 1.23 million tonnes recorded a month earlier.
CPO production, meanwhile, was 3.3% lower at 1.94 million tonnes compared to 2.01 million tonnes in October.
MPOB said exports of palm oil fell 11.9% to 1.35 million tonnes in November from 1.54 million tonnes a month earlier.
Fresh fruit bunches averaged at RM30.59 per tonne last month versus RM31.22 per tonne in October, according to MPOB.