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Indonesia palm output likely dropped in Dec, first decline in months -Reuters survey
January 18, 2017 / 4:08 AM / 10 months ago

Indonesia palm output likely dropped in Dec, first decline in months -Reuters survey

By Fransiska Nangoy and Bernadette Christina Munthe
    JAKARTA, Jan 18 (Reuters) - Indonesia's crude palm oil (CPO) output likely
fell slightly in December, ending a seven-month run of gains in the world's top
producer of the commodity used in everything from chocolate to biofuels, a
Reuters survey showed.
    A year-end decline in output would be in line with earlier predictions that
production would likely peak in November after steadily recovering from drought
brought on by an El Nino weather pattern in 2015 and the start of 2016.
    CPO production in the Southeast Asian nation likely eased to 3.22 million
tonnes in December from 3.31 million tonnes in November, according to the median
estimate in a survey of three industry associations and a state palm research
firm.    
    Meanwhile, December exports of Indonesian CPO were forecast to have risen 7
percent to 2.38 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 and December data is not yet available. 
    Domestic consumption was seen in a range of 900,000 tonnes to 1.10 million
tonnes, while the survey median showed domestic palm stocks at 1.89 million
tonnes.    
    The December 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 (in million tonnes). 
    
   Month    Output   Exports  Inventories  GAPKI export
                                               data
 December     3.218    2.382        1.886             --
 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
Joseph Radford)

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