December 20, 2018 / 9:15 AM / in 2 months

Indonesia's palm oil output, exports eased in November - Reuters survey

    By Bernadette Christina Munthe
    JAKARTA, Dec 20 (Reuters) - Indonesia's palm oil production
and exports in November are expected to fall from the previous
month while biodiesel usage continues to support domestic
demand, according to the results of a Reuters survey.    
    Palm oil output fell slightly to 3.98 million tonnes in
November, compared to 3.99 million tonnes in October, according
to the median results of a survey of two palm oil groups and a
state palm research firm.
    Exports from Indonesia, the world's top exporter of the
vegetable oil, were seen at 3 million tonnes in November,
slightly lower than 3.03 million tonnes in October.
    Vegetable oils buyers were on "wait and see" mode, according
a survey respondent, due to uncertainties linked to the trade
dispute between the U.S. and China which has resulted in
stockpiles of rival soybean oil building in the U.S.
    Domestic use of palm oil was estimated at 1.37 million
tonnes in November, up from 1.24 million a month earlier, a
record for the survey that Reuters started in 2014. Palm oil
consumption is rising as Indonesia implemented the mandatory use
of biodiesel fuel starting in September.
    By the end of November, palm oil stocks are estimated to
have eased to 3.9 million tonnes, from 4.35 million tonnes a
month earlier, according to the survey.
        
 Month      Output   Exports  Inventories  GAPKI palm & kernel
                                           oils exports
 November     3.979    3.000        3.900                    -
 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
 2017                                      
 December     3.519    2.512        3.200                 2.62
 November     3.901    2.518        3.602                 2.64
 October      3.949    2.750        3.144                 2.60
 September    3.630    2.685        2.400                 2.76
 August       3.587    2.714        2.600                 2.98
 July         3.530    2.400        2.422                  2.4
 June         3.200    2.200        1.300                 2.13
 May          3.375    2.375        1.094                 2.62
 April        2.904    2.162        1.306                 2.57
 March        3.078    2.093        2.300                 2.47
 February     2.800    2.406        2.000                 2.53
 January      2.949    2.214        1.475                 2.72
 
 (Writing by Fransiska Nangoy; Editing by Christian
Schmollinger)
  
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