Indonesia's crude palm oil (CPO) output likely to fall in April, while both exports and domestic consumption likely to rise, a Reuters survey showed. CPO production in Indonesia, the world's top producer of the vegetable oil, likely fell to 2.90 million tonnes from 3.08 million tonnes in March, according to the median estimate in a survey of two industries associations and a state palm research firm.
Exports of Indonesian CPO were estimated to increase last month to 2.16 million tonnes, from 2.09 million tonnes in March. Domestic use of the oil was forecast to rise to 867,000 tonnes in April, from 849,000 tonnes in March, according to the survey. Indonesian Palm Oil Association (GAPKI) data showed the country exported 2.47 million tonnes of palm oil and palm kernel oil in March. The group's April data is not yet available.
Domestic palm stockpiles are forecast to decline to 1.31 million tonnes due to lower production and higher consumption in April, compared to 2.3 million tonnes in March, according to the median responses in the survey. The April survey comprised responses from the Indonesia Palm Oil Board, the Indonesian Vegetable Oil Industry Association and the Indonesian Oil Palm Research Institute.
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