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Indonesia palm oil output seen at multi-year high in Aug., exports lower -survey
2018-09-20
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By Bernadette Christina Munthe JAKARTA, Sept 20 (Reuters) - Indonesia's palm oil production likely rose in August from a month earlier and was at its highest level in at least four years as weather conditions helped cultivation, while exports saw a small dip, a Reuters survey showed. Output of the vegetable oil used in various food and cleaning products rose to 4.01 million tonnes in August from around 3.90 million tonnes in July, according the survey of two industry associations, a state palm research firm and a senior industry expert.

Exports from the world's top palm oil producer in August saw slight dip to 2.83 million tonnes, compared with 2.89 million tonnes a month earlier, the survey showed. Domestic use of palm oil is seen rising to 1.05 million tonnes from 950,000 tonnes in July, according to median of three respondents who gave estimate for domestic consumption. Onshore consumption of palm oil is expected to increase further in September as Indonesian government implemented mandatory B20 fuel for all diesel machines, said Sahat Sinaga, executive director of Indonesian Vegetable Oil Association.

In Indonesia, palm oil is used as feedstock for biodiesel's bio components. Meanwhile, stock of palm oil at the end of August likely rose to 4.64 million tonnes, according to the survey's median, up from 4.30 million in July. 

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