Palm oil exports from Indonesia rise 11%

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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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. 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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