May 8, 2020 / 3:56 AM / 22 days ago

Indonesia's March palm oil exports down 8% y/y - palm oil association

JAKARTA, May 8 (Reuters) - Indonesia, the world’s largest palm oil producer, exported 2.72 million tonnes of palm oil, including processed products such as oleochemicals and biodiesel, in March the Indonesia Palm Oil Association (GAPKI) said on Friday.

Exports were down 8% on a yearly basis on lower demand due to the COVID-19 outbreak. On a monthly basis, however, exports rose from February’s 2.45 million tonnes, as some China demand recovered after businesses there resumed some activities, GAPKI said in a statement.

The palm oil stockpile by the end of March fell to 3.42 million tonnes due to lower monthly output, down from 4.08 million tonnes a month earlier, GAPKI said. (Reporting by Bernadette Christina Munthe; Writing by Fransiska Nangoy; Editing by Muralikumar Anantharaman)

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