Kuala Lumpur:Malaysia's total palm oil stocks saw a significant rise of 110,610 tonnes, or 3.15%, reaching 3.62 million tonnes in October, up from 3.51 million tonnes in the previous month, as reported by the Malaysian Palm Oil Board (MPOB).

According to BERNAMA News Agency, the MPOB detailed that crude palm oil (CPO) stocks increased by 7.46%, or 161,379 tonnes, bringing the total to 2.32 million tonnes in October, compared to 2.16 million tonnes in September. However, processed palm oil stockpile decreased by 3.77%, or 50,769 tonnes, to 1.29 million tonnes from 1.34 million tonnes in the prior month.

In terms of production, the MPOB noted a CPO output rise of 1.74%, or 36,751 tonnes, reaching 2.15 million tonnes in September, compared to 2.11 million tonnes the month before. Conversely, palm kernel output slightly declined by 0.79% month-on-month to 504,766 tonnes from 508,392 tonnes.

The report also highlighted a substantial increase in crude palm kernel oil production, which rose by 10.56% to 231,498 tonnes from September. Additionally, palm kernel cake output increased by 7.68% to 250,572 tonnes.

Exports of palm oil surged by 55.75% in October to 1.70 million tonnes from the previous month. However, palm kernel oil exports saw a decrease of 1.96% to 73,395 tonnes. Palm kernel cake exports also experienced a significant drop of 36.89% to 248,305 tonnes.

The report further noted that oleochemical exports rose by 34.26% to 322,708 tonnes, and biodiesel exports increased dramatically by 84.53% to 5,406 tonnes from last month.

The MPOB reported no crude palm oil imports in October. However, imports of processed palm oil fell by 48.87% to 26,207 tonnes from 51,252 tonnes, and overall palm oil imports decreased by 54.86% compared to the previous month.