JAKARTA: Exports and output of palm oil from Indonesia, the world’s top producer of the vegetable oil, fell in June from a month earlier, according to the median results of a Reuters survey of two industry groups and a state palm oil research firm.
Exports of palm oil, used in a wide variety of food and cleaning products, dropped to 2.48 million tonnes in June, from 2.60 million tonnes in May, according to the survey.
Output fell to around 3.45 million tonnes last month, from 3.75 million tonnes in May, the survey showed.
In comparison, the Indonesia Palm Oil Association (GAPKI) reported palm and palm kernel oil exports of 2.29 million tonnes in June, up 7 percent from a month earlier. Its figures often differ from numbers given by respondents in the regular Reuters survey.
Meanwhile, domestic use of the vegetable oil was seen at 994,550 tonnes in June, slightly higher from a month earlier, according to the Reuters survey.
By the end of June, palm oil stocks were estimated at 4.34 million tonnes, up from 3.68 million tonnes in the previous month.
Source: Brecorder
