October 17, 2019 / 9:08 AM / a month ago

UPDATE 1-Indonesia's palm oil, biodiesel exports skid in Aug - GAPKI

    * Palm oil, biodiesel and oleochemical exports 2.89 mln T in
Aug
    * Palm oil, palm kernel oil exports at 2.53 mln T, down 15%
on
year

 (Adds palm and palm kernel data, comments)
    JAKARTA, Oct 17 (Reuters) - Palm oil exports by top producer
Indonesia fell in August as traders from top buyer India reduced
shipments due to high import duties.
    Indonesia exported 2.89 million tonnes of palm oil,
biodiesel and oleochemical in August, data from the Indonesia
Palm Oil Association (GAPKI) said on Thursday, down from 3.30
million tonnes a year earlier and 2.92 million tonnes in July.
    Exports of palm oil and palm kernel oil in August were 2.53
million tonnes, down 15% annually but up slightly from July's
2.51 million tonnes.
    Shipments to China and the Middle East rose in August, said
GAPKI Executive Director Mukti Sardjono, but exports to India 
continued to drop due to high duties.
    Earlier this week, Indian refiners said they have stopped
buying palm oil from rival Malaysia for shipments in November
and December fearing New Delhi could raise import taxes or
enforce other measures to curb imports from the southeast Asian
country.
    India is considering restricting imports of some products
from Malaysia, including palm oil, after Kuala Lumpur criticised
New Delhi for its actions in Kashmir, Reuters reported on
Friday.
    GAPKI Chairman Joko Supriyono said the import taxes of up to
50% on Indonesian palm oil remain a big burden for local palm
producers.
    "It is important to maintain market share, because it's
actually shrinking," Supriyono said. 
    "If we look into it carefully, in the long term it seems
like (palm oil) exports volume to India is rising. But the
market share is not, because soya and rapeseed shares are
increasing."
    Meanwhile, palm oil output rose in August, sending
inventories to the highest so far this year at 3.8 million
tonnes, GAPKI said.
  
    Monthly palm and palm kernel oils exports      
 Month         Volume      M/M percent  Y/Y percent
             (mln tonnes)    change        change
 2019                                   
 August              2.53        +0.80        -15.38
 July                2.51       +15.67        -10.68
 June                2.17        -9.58         -5.24
 May                 2.40          +18           +12
 April               2.03          -27            -9
 March               2.78        +0.36         +15.8
 February            2.77        -10.6         +16.7
 January             3.10         +5.1         +13.1
                                                    
 2018                                               
 December            2.95         -1.6         +12.4
 November            2.99         -4.8         +14.1
 October             3.14        +5.02         +20.8
 September           2.99            0          +8.3
 August              2.99         +6.0          +0.3
 July                2.81        +22.7         +17.1
 June                2.29         +7.0          +7.5
 May                 2.14         -3.6         -18.3
 April               2.22         -7.4         -13.6
 March               2.40         +1.3          -2.8
 February            2.37        -13.5          -6.3
 January             2.74          4.6           0.7
 
 (Reporting by Bernadette Christina Munthe; Writing by Fransiska
Nangoy; Editing by Mark Potter and Subhranshu Sahu)
  
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