Friday, 10 October 2014

DJPO News - Malaysia Palm Oil Stockpile Rise

SINGAPORE--Malaysia's palm oil stockpiles rose to an 18-month high at the end
of September, although exports surged 13% from August, said the Malaysian Palm
Oil Board Friday. Production fell 6.6% from a month earlier.
  The sharp rise in exports was likely due to an export tax waiver on crude
palm-oil shipments for September and October, as authorities seek to reduce
stockpiles amid a price decline.
  Palm-oil exports have been under pressure due to prospects of an abundant
soybean crop this year, which makes soybean oil prices attractive. Supply of
other oilseeds have also been healthy.

  The following are details of the September crop data and revised numbers for
August issued by MPOB:

                                      September        August      Change
                                                     On Month
Crude Palm Oil Output     1,896,899     2,031,754    Dn  6.6%
Palm Oil Exports               1,628,197     1,437,503    Up 13.3%
Palm Kernel Oil Exports      104,760          71,272    Up 47.0%
Crude Palm Oil Imports            2,670           2,523    Up  5.8%

Closing Stocks                  2,089,859     2,053,175    Up  1.8%
Crude Palm Oil                 1,178,046     1,133,453    Up  3.9%
Processed Palm Oil              911,813        919,722    Dn  0.9%

(All figures are in metric tons)

  Write to Huileng Tan at

  (END) Dow Jones Newswires
  October 10, 2014 01:23 ET (05:23 GMT)