Indonesia’s palm oil stocks rise in Feb amid drop in exports, consumption: Gapki | Indo YoY stocks

Indonesia’s palm oil inventories totaled 3.26 million tonnes at the end of February, up by 7.49% from January, following a decrease in exports and domestic consumption, according to data from the Indonesian Palm Oil Association (Gapki) released on Tuesday April 30.

Total palm oil exports in February fell by 22.92% month on month to 2.166 million tonnes. Exports of processed palm oil showed the largest drop by volume, falling to 1.495 million tonnes from 1.933 million tonnes in January. Exports of crude palm oil (CPO) fell by 58.6% month on month to 152,000 tonnes. Meanwhile, Indonesia exported more crude palm kernel oil (CPKO) and processed CPKO in February, with shipments at 15,000 tonnes and 129,000 tonnes respectively, compared with 1,000 tonnes and 106,000 tonnes in January. CPKO exports rose to the highest in 15 months at the back of higher demand for PKO from the oleochemicals sector. Cargo surveyor ITS also reported a noticeable rise in CPKO export to 14,500 tonnes in February from zero volume in the month prior. CPKO exports from Indonesia are general sporadic given the exorbitant levy and taxes compared to refined laurics products.

Biodiesel exports in February were reported at 11,000 tonnes, up by 10% month on month, while oleochemical exports totaled 364,000 tonnes in the month, down by 7.38%…