Indonesia's palm oil output in March likely rose from a month earlier, while inventories were seen lower on the back of a pickup in exports and domestic consumption, according to a Reuters survey. Palm oil output in top producer Indonesia was seen rising to 3.95 million tonnes in March from 3.80 million tonnes in the previous month, according to the median results of a survey of two palm oil groups and a state palm research firm.
Exports were seen at 2.93 million tonnes last month, compared with 2.88 million tonnes in February. Domestic consumption of palm oil likely increased to 1.51 million tonnes last month from 1.26 million tonnes a month earlier, the survey median showed.
At the end of March, palm oil stocks were estimated at 2.40 million tonnes, compared with 2.73 million tonnes a month earlier, according to the survey.
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