InfoSAWIT, JAKARTA – Crude palm oil (CPO) stocks in Malaysia decreased by the late of March 2022 and kept decreasing for the past five months in a row. It happened for the increasing exports and decreasing imports which surpassed the production, as Malaysian Palm Oil Board (MPOB) showed, Monday. (11/4/2022).
CPO stocks in the second biggest palm oil producer in the world decreased 2,99% from February 2022 to be 1,47 million tons – the lowest numbers since March 2021, still from MPOB.
The whole demands increased almost three times faster than the stocks, and vanished the stocks, one founder of Palm Oil Analytic in Singapore, Sathia Varqa noted.
As InfoSAWIT quoted from hellenicshippingnews, CPO production increased for the first time since October 2021. It happened for the better weather and beyond expectation within monthly increasing production 24% to be 1,41 million tons.
The exports increased 14,1% to be 1,27 million tons, the highest in the past three months because many consumers looked for sunflower oil substitution which got decreasing since Russian invasion to Ukraine.
The imports decreased 43% to be 84.871 tons. Director of Sustainable Protection – the broker in Malaysia, Paramalingam Supramaniam said, the increasing local consumption reflected the better one after Covid-19 pandemic. “Eventually this would be increasing in a whole year,” he said.
In April 2022, it is predicted there will be anomaly because heading to the second quarter, in general many producers and planters would get lower production and could be reaching two digits for the first ten days in April. (T2)