Wednesday, 11 March 2009

Palm oil production falls for third month

Published: Wednesday March 11, 2009 The Star, Malaysia

PETALING JAYA: Crude palm oil (CPO) production fell for a third month in February compared to a month ago while exports of palm oil were down whereas that of palm kernel oil was up.

CPO production fell 10.7% to 1.18 million tonnes while total palm oil stocks including CPO and processed palm oil fell 14.7% to 1.56 million tonnes.

According to figures released by the Malaysian Palm Oil Board Wednesday, exports of palm oil were down 7.2% to 1.25 million tonnes while exports of palm kernel oil were up 6.7% to 94,300 tonnes from a month ago.

Compared to January, which saw palm oil exports down 16.2% and palm kernel oil exports decline 27.5%, exports in February have been holding steady.

ECM Libra Investment Research Sdn Bhd said the steady export flows during February was due to a recovery in exports to China.