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Palm Oil Exports From Indonesia Post Longest Slump Since 2008

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Palm oil shipments from Indonesia, the world’s largest producer, fell for a fourth month in February in the longest slump in at least seven years after China cut purchases of the cooking oil used in food and fuel.

Shipments, that included palm kernel oil, fell to 1.79 million metric tons from 1.8 million tons in January, the Indonesian Palm Oil Association, or Gapki, said on Wednesday. That compares with the 1.7 million tons median estimate in a Bloomberg survey published this week. Export to China fell about 50 percent to 98,980 tons in February, data showed.