JAKARTA: Indonesia’s crude palm oil (CPO) output likely declined in January, a second straight monthly drop in the world’s top producer of the widely used commodity, a survey showed.
CPO production in the Southeast Asian nation likely slipped to 2.95 million tons in January from 3.22 million tons in December, according to the median estimate in a survey of three industry associations and a state palm research firm.
Exports of Indonesian CPO were estimated to have also declined in January to 2.21 million tons from 2.38 million tons a month earlier.
Indonesian Palm Oil Association (GAPKI) data showed the country exported 2.68 million tonnes of palm oil and palm kernel oil in December. The group’s January data is not yet available.
Consumption in Indonesia was seen between 800,000 and
947,000 tonnes, while the survey median showed domestic palm stocks at 1.475 million tonnes.
The January survey comprises responses from GAPKI, the Indonesia Palm Oil Board, the Indonesian Vegetable Oil Industry Association and the Indonesian Oil Palm Research Institute.
Below is a table of the median responses to the Reuters CPO survey and GAPKI palm and palm kernel oil export data for 2015/2016/2017 (in million tons)
