Indonesia’s Palm Oil Exports to Ease Only Slightly Despite Curbs
- Shipments may drop by just 1 million tons this year: Gapki
- Policy that mandates domestic sales not likely to cut exports
Palm oil extended a surge to a fresh record.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia’s palm oil exports may drop by just 1 million tons this year, according to a top industry group, a sign that the government’s latest policy to cool prices will not significantly crimp overseas shipments.
Exports by the top oil palm grower could fall 3% to 33.2 million tons this year, said the Indonesian Palm Oil Association, known as Gapki. That’s because its consumption of the tropical oil for food and biodiesel is expected to rise.