Agribusiness / Food in Malaysia
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MALAYSIA, 2015/12/28
a national drive to reduce the oversupply of palm oil in Malaysia, the world’s second-major producer, is expected to bring better market stability, supported by government incentives and trade controls.
Climbing stockpile
According to data from the Malaysian Palm Oil Board (MPOB), palm oil stocks rose by 2.63m tonnes in September, up 5.46% over the previous month, a thee-year high. Crude palm oil holdings increased by 6.68% month-on-month to 1.56m tonnes, with processed oil stocks up by a additional modest 3.74% to just over 1m tonnes, the board said in a statement in mid-October.
Stockpiles rose despite export increase in September, with overseas shipments reaching 1.68m tonnes, up from 1.61m in August, and biodiesel exports nearly doubling to 31,400 tonnes.
