August 29, 2018 / 7:01 AM / a month ago

Indonesia's 2018 crude palm oil output to climb to 40-42 mln T -industry body

KUALA LUMPUR, Aug 29 (Reuters) - Indonesia’s 2018 crude palm oil output is set to climb by 4-6 million tonnes from last year to 40-42 million tonnes, said an official from an industry association.

“Output will be better this year ... because of replanting seen in the private sector, which will give better yields,” Togar Sitanggang, vice chairman of the Indonesian Palm Oil Association (GAPKI), said on the sidelines of an industry conference in Kuala Lumpur.

He added that the output gains would push up year-end stocks unless exports pick up.

Indonesia is the world’s largest producer and exporter of palm oil, the most widely used edible oil in the world found in everything from margarine and cookies to soap.

Palm oil output usually rises in line with seasonal factors towards the third and fourth quarter of the year. (Reporting by Emily Chow Editing by Joseph Radford)

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