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Indonesia Dec Crude Palm Oil Exports to Fall Slightly -Reuters survey

 



JAKARTA, Jan 22 (Reuters) - Indonesia's crude palm oil (CPO)
exports in December likely edged lower because of lower demand
after an import tax hike started on edible oils in India,
Indonesia's biggest CPO importer, while output fell for a second
month, a Reuters survey showed.
    Exports of CPO from Indonesia, the world's biggest palm oil
producer, fell slightly to 2.51 million tonnes in December from
2.52 million in November, according to a median survey of two
industry groups and a state palm oil research firm.
    Shipments of the widely used vegetable oil are likely to
decline after the import tax hike in India along with
competition from Malaysia after it cut its palm oil export levy.

    "Supply to India fell and Malaysia CPO exports without levy
would cause Indonesian palm to be under pressure," said Sahat
Sinaga, executive director of the Indonesia Vegetable Oil
Association (GIMNI).
    Malaysia cut its CPO export tax in December and said earlier
this month it would suspend the export tax for three months
starting from Jan 8.
    Meanwhile, Indonesia's output of CPO in December fell to
3.52 million tonnes, according to the median estimate of the
survey, down from 3.9 million in November.   
    Domestic CPO consumption was forecast at 972,000 tonnes in
December, compared to 989,550 a month earlier.
    CPO stockpiles in December are forecast to fall to 3.2
million tonnes from 3.6 million in the prior month.
    The December palm survey was comprised of responses from the
Indonesia Palm Oil Board, the Indonesian Oil Palm Research
Institute and GIMNI.
    Below is a table of the median forecasts in the Reuters
survey for CPO output, exports and stockpiles, as well as the
GAPKI palm and palm kernel oil export data, going back to 2016.
Figures are in million tonnes.   
    
 Month      Output   Exports  Inventories  GAPKI palm &
                                           kernel oils
                                           exports
 December     3.519    2.512        3.200            --
 November     3.901    2.518        3.602            --
 October      3.949    2.750        3.144          2.60
 September    3.630    2.685        2.400          2.76
 August       3.587    2.714        2.600          2.98
 July         3.530    2.400        2.422           2.4
 June         3.200    2.200        1.300          2.13
 May          3.375    2.375        1.094          2.62
 April        2.904    2.162        1.306          2.57
 March        3.078    2.093        2.300          2.47
 February     2.800    2.406        2.000          2.53
 January      2.949    2.214        1.475          2.72
      2016                                             
 December     3.218    2.382        1.886          2.68
 November     3.310    2.221        1.786          2.84
 October      3.064    2.225        1.945          2.41
 September    2.900    2.000        1.738          1.73
 August       2.833    1.740        1.700          2.07
 July         2.802    1.875        1.875           1.6
 June         2.464    1.798        1.712          1.78
 May          2.188    1.919        2.100          1.76
 April        2.132    1.928        2.250          2.09
 March        2.150    1.895        2.592          1.74
 February     2.300    2.010        3.633          2.29
 January      2.440    2.005        2.025           2.1
 

($1 = 13,340.0000 rupiah)

Sumber: Reuters.com