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Indonesia March palm oil output likely rebounded - Reuters survey
April 25, 2017 / 5:00 AM / 7 months ago

Indonesia March palm oil output likely rebounded - Reuters survey

    By Fransiska Nangoy
    JAKARTA, April 25 (Reuters) - Indonesia's crude palm oil
(CPO) output likely rose in March after falling for the previous
three months, as better weather improved output, a Reuters
survey showed. 
    CPO production in Indonesia, the world's top producer of the
widely used cooking oil, likely rose to 3.08 million tonnes in
March from 2.80 million tonnes in February, according to the
median estimate in a survey of two industry associations and a
state palm research firm. 
    "CPO production in March started to show improvement due to
good rain fall late in 2016 up to March," said Sahat Sinaga,
executive director at the Vegetable Oil Industry Association.
    Meanwhile, Indonesian CPO exports were estimated to have 
dropped last month to 2.09 million tonnes, from 2.41 million
tonnes in February. 
    Indonesian Palm Oil Association (GAPKI) data showed the
country exported 2.53 million tonnes of palm oil and palm kernel
oil in February. The group's March data is not yet available.
 
    Domestic use of the oil ranged between 823,000 tonnes and
900,000 tonnes, up from 800,000 tonnes and 845,000 tonnes in the
previous month, according to the survey. 
    Domestic palm stockpiles rose to 2.3 million tonnes in
March, up 2 million tonnes in February, according to the median
responses in the survey.
    The March survey comprised responses from 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 going back
to 2015 (in million tonnes). 
    
   Month    Output   Exports  Inventories  GAPKI palm &
                                            kernel oils
                                              export
 March        3.078    2.093        2.300             --
 February     2.800    2.406        2.000           2.53
 January      2.949    2.214        1.475           2.72
 2016                                      
 December     3.218    2.382        1.886           2.68
 November     3.310    2.221        1.786           2.84
 October      3.064    2.225        1.945           2.41
 September    2.900    2.000        1.738           1.73
 August       2.833    1.740        1.700           2.07
 July         2.802    1.875        1.875           1.60
 June         2.464    1.798        1.712           1.78
 May          2.188    1.919        2.100           1.76
 April        2.132    1.928        2.250           2.09
 March        2.150    1.895        2.592           1.74
 February     2.300    2.010        3.633           2.29
 January      2.440    2.005        2.025           2.10
 2015                                                   
 December     2.457    2.675        2.425           2.51
 November     2.800    2.093        2.950           2.39
 October      3.010    2.213        3.025           2.61
 September    3.100    2.235        3.050           2.34
 August       3.198    1.885        3.392           2.10
 July         2.856    1.920        3.200           2.09
 June         2.800    2.400        3.046           2.27
 May          2.774    2.150        2.540           2.22
 April        2.662    2.046        2.602           2.25
 March        2.397    1.800        2.667           2.03
 February     2.049    1.750        2.425           1.79
 January      2.056    1.658        2.413           1.81
 
 (Reporting by Fransiska Nangoy; Additional reporting by
Bernadette Christina Munthe; Editing by Christian Schmollinger)
  

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