Indonesia's GAPKI sees lower 2024 palm oil exports, possible B40 mandate

A general view of a palm oil plantation in Siak regency, Riau province, Indonesia. - Reuters

KUALA LUMPUR: Indonesia's 2024 palm oil exports are seen at 29.50 million metric tonnes, down from 30.25 million tonnes last year, the Indonesia Palm Oil Association (GAPKI) said at an industry conference on Wednesday (March 6).

Meanwhile, palm oil output in the world's biggest producer of the edible oil is expected to rise by 2.26% to 54.4 million tonnes, GAPKI official Fadhil Hasan said, while domestic consumption is seen higher due to demand for biodiesel feedstock.