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Indonesia palm output seen extending growth in Nov - Reuters survey
December 19, 2016 / 3:39 AM / 8 months ago

Indonesia palm output seen extending growth in Nov - Reuters survey

By Fransiska Nangoy and Bernadette Christina Munthe
    JAKARTA, Dec 19 (Reuters) - Indonesia's crude palm oil (CPO) output likely
rose by 8 percent in November from a month ago, while exports fell slightly, a
Reuters survey showed.
    CPO production was forecast at 3.31 million tonnes from 3.06 million tonnes
in October, according to the median estimate in a survey of three industry
associations and a state palm research firm.    
    The forecast would mark a seventh consecutive month of rising output in
November as good rains this year aided cultivation following last year's
drought.
    "In 2016, the peak of production is estimated to be between October and
November. Production in some areas improved well, plus there are plantation
areas that were expanded," said Derom Bangun, chairman of Indonesian Palm Oil
Board (IPOB). 
    November exports of Indonesian CPO were forecast to edge lower to 2.22
million tonnes, from 2.23 million tonnes a month earlier.
    Indonesian Palm Oil Association (GAPKI) data showed the country exported
2.41 million tonnes of palm oil and palm kernel oil in October. The group's
November data is not yet available. 
    Domestic consumption was estimated at up to 1.05 million tonnes from as much
as 937,000 tonnes in October. Meanwhile, domestic palm stocks were seen falling
by 8 percent to 1.79 million tonnes, the survey median showed.    
    The November survey comprises responses from GAPKI, the IPOB, 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 (in million tonnes). 
    
   Month    Output   Exports  Inventories  GAPKI export
                                               data
 November     3.310    2.221        1.786             --
 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 and Bernadette Christina Munthe; Editing by
Richard Pullin)

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