Indonesia's Palm Oil Exports Drop in April Despite Increased Output and Rising Stockpiles

Mumbai, 24 Jun (Commoditiescontrol): Indonesia's palm oil exports experienced a notable decline in April, dropping to 2.18 million tons from 2.56 million tons in March, according to the Indonesian Palm Oil Association (Gapki). This downturn in exports comes despite a slight increase in production and a significant rise in stockpiles.

Palm oil output in April edged up to 4.51 million tons, compared to 4.49 million tons in March. Meanwhile, stockpiles surged to 3.74 million tons, up from 3.3 million tons the previous month.

Domestic consumption of palm oil also saw a minor decrease, falling to 1.89 million tons from 1.9 million tons in March. Similarly, palm oil used for biodiesel dropped to 842,000 tons from 884,000 tons in the prior month.

(By Commoditiescontrol Bureau; +91-9820130172)