Palm Oil Shipments From Indonesia Jumping to 10-Month High
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Palm oil exports from Indonesia, the world’s largest producer, will probably climb 13 percent this month to the highest level since January as lower prices and taxes spur importers to boost purchases.
Shipments are set to increase to 1.6 million metric tons from an estimated 1.41 million tons in October, according to the median of estimates from three plantation executives, an analyst and a refiner compiled by Bloomberg. Output will decline to 2.4 million tons from 2.43 million tons, the survey showed. Stockpiles may drop to 2.5 million tons from 2.6 million tons, three respondents said.