Indonesia’s 2024 palm oil exports seen down at 29.5 mln T, says palm oil association

Indonesia’s 2024 palm oil exports are seen at 29.5 million metric tons, down from 30.25 million tons last year, the Indonesia Palm Oil Association (GAPKI) said at an industry conference on Wednesday.

Meanwhile, palm oil output in the world’s biggest producer of the edible oil is expected to rise by 2.26% to 54.4 million tons, GAPKI official Fadhil Hasan said.

Indonesia’s palm oil inventories by end of 2024 are estimated at 5.25 million tons.
Source: Reuters (Reporting by Bernadette Christina Munthe, Danial Azhar,Writing by Fransiska Nangoy,Editing by Kanupriya Kapoor)