Optimism about Indonesia’s palm oil exports

At the end of May, data from the Indonesian Palm Oil Association showed there were 7.23 million tonnes of CPO in storage tanks in Indonesia, which was up 18.5% month-on-month and 236% year-on-year.

KUALA LUMPUR: CGS-CIMB Research is optimistic about Indonesia’s latest measure on the short-term palm oil export levy waiver as it encourages an increase in exports and reduces the country’s high stockpiles.

Indonesia recently announced it would waive a palm oil export levy from July 15 to Aug 31 in an attempt to boost shipments and reduce stockpiles.