SunSirs: Malaysia's Palm Oil Production Increased approximately 27% monthly in Early August
August 07 2024 14:03:17 SunSirs (Selena)
According to data from the South Malaysia Palm Oil Association (SPPOMMA), palm oil production in South Malaysia increased by 26.61% month on month from August 1-5, 2024. Among them, the yield of fresh fruit skewers increased by 30.03% month on month, and the oil yield (OER) increased by 0.65%.
According to data from the shipping survey agency ITS, Malaysia's palm oil exports from August 1st to 5th, 2024 were 196,350 tons, a decrease of 29.3% compared to the previous period.
The Malaysian Palm Oil Board (MPOB) will release monthly data next Monday (August 12th). A survey shows that analysts expect palm oil inventories in Malaysia to decline by the end of July as export growth exceeds the impact of production growth.
According to the survey, the estimated palm oil inventory in Malaysia at the end of July was 1.8 million tons, a decrease of 1.2% from 1.83 million tons at the end of June.
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