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Indonesia palm oil exports seen flat in June, output down -survey

Tuesday, 23 July 2019 | 20:00

Indonesia’s palm output in June is forecast to fall from a month earlier, while exports will be flat, a Reuters survey of industry groups and researcher showed.

Output of palm oil from Indonesia, the world’s top producer, likely edged lower to 4.54 million tonnes in June from 4.6 million tonnes in May, according to a survey of two palm oil industry groups and a state palm oil research firm.

Exports of palm oil, used in various products from food to cleaning products, were estimated at 2.80 million tonnes in June, the same as in May, while domestic consumption was seen rising to 1.6 million tonnes last month from 1.5 million tonnes in May.

At the end of June, domestic stockpiles of palm oil are estimated at 2.95 million tonnes, the highest level this year according to the survey.

Data from Indonesia’s largest palm oil association GAPKI showed palm oil stockpiles at the end of May were at 3.53 million tonnes. GAPKI’s June data is not yet available.

Survey results in million tonnes:

 Month      Output   Exports  Inventories  GAPKI palm & kernel
                                           oils exports
 June         4.539    2.800        2.949                   --
 May          4.600    2.800        2.810                 2.40
 April        4.420    2.910        2.510                 2.03
 March        3.950    2.930        2.400                 2.78
 February     3.800    2.880        2.733                 2.77
 January      3.600    3.045        2.853                 3.10
 2018                                      
 December     3.900    2.900        3.434                 2.95
 November     3.979    3.000        3.900                 2.99
 October      3.985    3.029        4.346                 3.14
 September    4.250    3.055        4.800                 2.99
 August       4.006    2.827        4.638                 2.99
 July         3.897    2.887        4.300                 2.81
 June         3.452    2.477        4.335                 2.29
 May          3.751    2.600        3.675                 2.14
 April        3.650    2.650        3.550                 2.22
 March        3.335    2.500        3.528                 2.40
 February     3.490    2.480        3.530                 2.37
 January      3.586    2.737        3.701                 2.74

Source: Reuters (Reporting by Bernadette Christina Munthe; writing by Fransiska Nangoy; editing by Christian Schmollinger)

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