Palm Oil Shipments From Indonesia Climb to Seven-Month High
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Palm oil exports from Indonesia, the world’s biggest producer, probably advanced in July to the highest level this year after India boosted purchases, helping to reduce stockpiles as output fell.
Shipments rose 0.6 percent to 1.8 million metric tons from June, according to the median of estimates from five plantation and industry executives compiled by Bloomberg. That’s 13 percent more than a year ago. Inventories probably contracted 3.8 percent to 2.02 million tons as production fell 2.7 percent to 2.14 million tons, the survey showed.