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Indonesia’s March palm oil exports down 40% y/y

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JAKARTA: Indonesia exported 2.02 million tonnes of palm oil in March, including refined products, down 40% from the same month a year earlier, data from the Indonesia Palm Oil Association (GAPKI) showed on Thursday.

Indonesia produced 3.78 million tonnes of crude palm oil, taking end-March stocks to 5.68 million tonnes, compared to end-February stocks of 5.05 million tonnes, GAPKI data showed.

Palm oil may rise to 6,602 ringgit

Indonesia has since April 28 stopped palm oil exports to control domestic prices.