Indonesia’s palm oil exports to ease only slightly despite curbs

Prices have climbed about 60% in the past year, driven by a severe labour crunch in Malaysia, the second-biggest grower, as well as tight vegetable oil supplies globally. - Starpic

JAKARTA (Bloomberg): Indonesia’s palm oil exports may drop by just 1 million tonnes 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.