The production and exports of crude palm oil from Indonesia, the world's largest producer of palm oil, were likely to rise last month. This emerges from a survey of the news service Reuters, which was released today.
Indonesia's palm oil production reached 3.65 million tonnes in April (March: 3.335) and exports reached 2.65 million tonnes (March: 2.5 million tonnes).
The Indonesian Palm Oil Association (GAPKI) said its members exported 2.4 million tonnes of palm oil and palm kernel oil in March. It was 2.37 million tonnes in February, but 2.74 million tonnes in January. The decline since January is due to export restrictions from India, the largest buyer of edible oils worldwide.
Meanwhile, domestic consumption of cooking oil rose in April to an estimated 1 million tonnes (previous month: 973,000 tonnes). According to a survey, palm oil stood at 3.55 million tonnes at the end of April. GAPKI estimates the stocks at 3.65 million tonnes at the end of March.
