Indonesia palm oil stocks rise by 50pct in April after fall in exports
Indonesia’s palm oil inventory rose 50 per cent on the month to reach 3.04 million metric tons by the end of April, its highest rate since May last year following a decline in exports, data from Indonesia’s palm oil association GAPKI showed on Tuesday.
Exports fell by 38.14 per cent month-on-month in April from 2.18 million tons to 1.78 million tons.
The drop in exports was due to a decline in demand from European Union, India, United States, Pakistan and Bangladesh.
Crude palm oil output in April was 4.48 million tons, up from 4.39 million tons in March.
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