Palm oil exports from Indonesia rise 11%

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palm oilPalm old shipments from Indonesia advanced in September 2013 for the first time in four months on reduced supplies of substitutes, boosting demand for the most-consumed cooking oil from the world’s biggest producer.

Exports gained 11 per cent to 1.64 million metric tonnes from 1.48 million tonnes in August, the Indonesian Palm Oil Association said in a statement on October 14. That’s the first advance since May, when sales jumped 21 per cent, and compares with 1.38 million tonnes in September 2012, data compiled by Bloomberg show. The median of estimates from four plantation executives and an industry official was for an increase to 1.6 million tonnes.

Rising palm demand may extend a rally in futures that slumped to an almost four-year low in July 2013 on prospects for record global supplies. US reserves of soybeans, crushed to make soybean oil, were at their lowest in four years last month.

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Reading Time: 1 minute

Palm old shipments from Indonesia advanced in September 2013 for the first time in four months on reduced supplies of substitutes, boosting demand for the most-consumed cooking oil from the world’s biggest producer.

Reading Time: 1 minute

palm oilPalm old shipments from Indonesia advanced in September 2013 for the first time in four months on reduced supplies of substitutes, boosting demand for the most-consumed cooking oil from the world’s biggest producer.

Exports gained 11 per cent to 1.64 million metric tonnes from 1.48 million tonnes in August, the Indonesian Palm Oil Association said in a statement on October 14. That’s the first advance since May, when sales jumped 21 per cent, and compares with 1.38 million tonnes in September 2012, data compiled by Bloomberg show. The median of estimates from four plantation executives and an industry official was for an increase to 1.6 million tonnes.

Rising palm demand may extend a rally in futures that slumped to an almost four-year low in July 2013 on prospects for record global supplies. US reserves of soybeans, crushed to make soybean oil, were at their lowest in four years last month.

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