Indonesia’s Palm Oil Exports Seen Poised for 4-Month Low

Palm oil shipments from Indonesia, the world’s largest grower, may decline to the lowest level in four months in February as more buyers turn to Malaysia after it extended duty-free shipments to clear record stockpiles. Futures fell to a two-week low.

Exports will probably drop 5.6 percent to 1.51 million metric tons from January, according to the median of estimates from three plantation companies, one analyst and one refiner compiled by Bloomberg. Output may slide 8 percent to 2 million tons, while inventories contract 14 percent to 3 million tons.