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larangan ekspor CPO

Indonesia Trimming Palm Oil Stocks with Discounts, India Sales

larangan ekspor CPO
Demonstration against palm oil export ban in Jakarta, Tuesday (17/5/2022).(KONTAN/Fransiskus Simbolon)

KONTAN.CO.ID - MUMBAI/JAKARTA. Indonesian palm oil producers are whittling down their hefty inventory overhang with discounts versus rivals and aggressive sales to India, where demand is picking up for next month's Diwali festival, industry officials said.

Backed by Jakarta's waiver of palm oil export levies, which was recently extended to Oct. 31 and reversed course from an export ban in May that had shut them out of global trade, producers are moving in to lighten up their stocks at tempting prices.

And India, the world's biggest importer of vegetable oils, is buying - offering potential support to benchmark palm oil futures prices FCPOc3 while threatening to undercut imports of rivals soyoil BOc1 and sunoil.

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