Indonesia’s May palm oil exports drop 25.1% on year, industry group says

JAKARTA: Indonesia’s palm oil exports, including refined products, were 1. 996 million metric tons in May, versus 2. 664 million tons in the same month last year, data from the Indonesian palm oil association GAPKI showed on Wednesday, a 25. 1% drop. On a monthly basis, exports fell 28. 12% in May, GAPKI said. Crude palm oil output from the world’s biggest producer was 4. 165 million tons in May, down 7% from a month earlier. Despite lower output, palm oil stocks by the end of May were 3. 042 million metric tons, a rise of 18. 9% from a month earlier, due to the reduced export volume.

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