Palm Oil: Indonesia's Palm Oil production in July, likely to grow exports
September 16, 2017 at 8:42 AM ,
Rainbow Exports
Indonesia's Palm Oil production in July, likely to grow exports
Jakarta Indonesia is likely to grow crude palm oil production and exports in July 2017. This information was given by a foreign news agency in its survey.
According to the survey, Indonesia's crude palm oil (CPO) production is expected to increase to 3.5 million tonnes, while it was 3.2 million tonnes in June. Crude palm oil exports are likely to increase from 2.2 million tonnes in June to 2.4 million tonnes. The main reason for the increase in export of palm oil is the demand of India, China and European countries.
Hassan Hersil Siragare, director of the Indonesian Oil Palm Research Institute, says that the demand for palm oil is constantly increasing. Whereas, domestic consumption is likely to decrease from 0.937 million tonnes to 848,500 tonnes in June. In the meantime, domestic stocks are expected to increase from 3.2 million tonnes to 2.42 million tonnes in July. According to the Indonesian Palm Oil Association (GAPKI), palm oil and palm oil oil exports stood at 2.13 million tonnes in June. The association has not yet released the data for July.
Palm oil data (’00,000) MT:
|
Month |
The production |
Export |
Inventory |
|
July 17 |
35.30 |
- |
24.22 |
|
June 17 |
32.00 |
21.3 |
13.00 |
|
May 17 |
33.75 |
26.2 |
10.94 |
|
April 17 |
29.04 |
25.7 |
13.06 |
|
March 17 |
30.78 |
24.7 |
23.00 |
|
February 17 |
28.00 |
25.3 |
20.00 |
|
January 17 |
29.49 |
27.2 |
14.75 |
Indonesia can not make major changes in palm oil exports to India
Mumbai: Palm oil exports to Indonesia from India are unlikely to make major changes in the year 2017. In the current year 2017, this export is expected to remain around 5.7 million tonnes. According to the Indonesian Palm Oil Association (GAPKI), despite the increased import duty on palm oil in India, this export will not make any difference.
Gokki Chairman Joko Supariono says that before the import duty was increased in India, the export was on the rise but now we feel that there will be no increase in the sector and it will be similar to last year. Explain that Indonesia's palm oil exports to India during January-June was 34 million tonnes. Talking to the media during the GlobeOil-2017 held here, the Chairman of GAPKI said.
Explain that India imports the highest amount of palm oil from Indonesia. On August 11, the Indian government had increased the duty on crude palm oil to 15 percent. Indonesia's production of Palm Oil this year is expected to reach 35.5 million tonnes, which was 32.5 million tonnes last year.
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