KUALA LUMPUR (January 10): Malaysian palm oil inventory rose 0.33% to 1.99 million tonnes in December 2013 from 1.98 million tonnes in the preceding month (November), according to the Malaysian Palm Oil Board (MPOB).
In a statement on its website today, MPOB said inventory comprising crude palm oil (CPO) and processed palm oil had risen despite a fall in CPO output. This is because palm oil exports had also declined.
MPOB said CPO output fell 10.43% to 1.67 million tonnes from 1.86 million tonnes while palm oil exports declined 1.36% to 1.51 million tonnes from 1.53 million tonnes.
"The import and export figures are based on information extracted from Customs No. 1 and 2 (Rev. 8/89) received up to 10.00 a.m., 10 January 2014. The export date refers to that as authorised by the Customs Department," MPOB said.
A Reuters survey earlier showed that output from Malaysia, the world's No.2 producer probably fell 10.1 percent to 1.67 million tonnes from a month ago, after top palm-growing states were hit by floods that forced the evacuation of more than 60,000 people.
The survey of five planters and traders estimated that end-stocks likely edged down 1 percent to 1.96 million tonnes in December, their first fall after rising each month since July.
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