Malaysia, the world’s second-largest producer of palm oil, reported lower palm oil stocks in December, according to official data released Tuesday. Malaysian palm oil stocks fell 4.09 percent to 2.19 million tons in December 2022, according to the Malaysian Palm Oil Board. Meanwhile, the country’s crude palm oil production fell 3.68 percent month on month to 1.62 million tons.
In contrast, palm oil exports fell 3.48 percent month on month to 1.47 million tons. Imports of palm oil, on the other hand, increased 0.14 percent month on month to 47,114 tons.