Indonesia cut palm oil exports in March
According to estimates of the national association GAPKI, in March shipments of the product from Indonesia reached the level of 2.56 million tons, which is 3% behind the indicator of the corresponding period a year earlier.
The Association estimates the volume of Indonesian crude palm oil production in March at 4.1 million tons, and its stocks at the end of the month at 3.3 million tons.
It should also be noted that, according to the forecast of experts of OilWorld (Germany), total world exports of the product in April-September 2024 will reach 25.9 million tons from 24.4 million tons in October-March 2023/24 MY and 25.5 million tons in April-September 2023, of which the main volume will be shipped by Indonesia.
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