Indonesia exported 2.89 million metric tons of palm oil in October, including refined products, according to data released by the country’s palm oil association (GAPKI) on Tuesday.
Key Highlights:
Year-on-Year Comparison:
The export figure reflects a decline from 3.01 million tons in October of the previous year. However, it shows an improvement from a revised 2.26 million tons exported in September.
Production Increase:
In October, Indonesia, the world’s largest palm oil exporter, produced 4.42 million tons of crude palm oil. This marks an increase of approximately 10% compared to the previous month.
Stock Levels:
By the end of October, Indonesia’s palm oil stocks were reported at 2.51 million tons, a decrease from 2.62 million tons at the end of September. This reduction is attributed to rising domestic consumption.