Palm oil stocks in March fall 10.9 % to 2.17 M tonnes

Palm oil stocks fell 10.9 per cent to 2.17 million tonnes last month from 2.44 million tonnes in February, the Malaysian Palm Oil Board (MPOB) said Wednesday.

It said crude palm oil (CPO) stocks declined 10.73 per cent to 1.25 million tonnes last month while processed palm oil dwindled 11.06 per cent to 924,789 tonnes.

Palm kernel stocks dipped 25.79 per cent to 114,687 tonnes last month and crude palm kernel oil stocks eased 2.10 per cent to 282,216 tonnes, it said in a statement.

The MPOB said CPO production in March increased 2.18 per cent to 1.33 million tonnes from 1.3 million tonnes in the preceding month.

Palm kernel production last month added to 339,499 tonnes from 337,622 tonnes in February while crude palm kernel oil output rose to 176,929 tonnes from 161,188 tonnes in February.