GAPKI- Indonesia Feb’19 Stocks Down by 17% at 2.5 Million tons

MUMBAI (Commoditiescontrol)- GAPKI- Indonesian Palm Association, monthly supply demand report for Feb’19 was published recently, however the same was comparatively bullish as per market anticipations.

As per GAPKI latest release, Indonesian production in the month of Feb'19 hovered near 3880 thousand tons vs. 4379 thousand tons in Jan’19, depicting a fall of 11% on monthly basis. Market anticipations were close to 3540 thousand tons

Indonesian Palm Processed Products exports were down by 19% on m-o-m basis to 2028 thousand tons vs. 2508 thousand tons exported previous month. However, CPO exports was slightly up at 852 thousand tons in Feb’19 vs. 746 thousand tons exported last month in Jan’19

On Consumption front, domestic demand marked rise of 11% on monthly basis to 1517 thousand tons vs. 1366 thousand tons. However, market anticipations were fall in consumption by 1.2% to 1350 thousand tons.

The Feb’19 palm oil stocks were pegged at 2502 thousand ton, much lower compared to market anticipation of 2800 thousand tons and also down by 17% from Jan’19 stock of 3020 thousand tons.