12 Jul 2007

Malaysia June CPO output drops 2.9 percent from May to 1.166 million tons

Malaysia, the second-largest palm oil producer in the world after

Indonesia

, said Tuesday crude palm oil production fell 2.9 percent from May to 1.166 million metric tons in June.

Total stock of crude palm oil rose 5.0 percent to 516,543 metric tons from 492,149 metric tons in May, the Malaysian Palm Oil Board (MPOB) said in its latest report. Palm oil stock, including processed palm oil, increased 7.5 percent to 1.2 million metric tons last month, the government agency said.

MPOB said exports of palm oil totaled 943,521 metric tons, down 18.1 percent from May, while imports increased 154.3 percent to 35,324 metric tons.

The price of fresh fruit bunches averaged 27.76 ringgit per metric ton, up 7.3 percent from May, it said.

Sumber: www.sharewatch.com