Weather boosts Indonesian palm oil production but soaring exports cut into stocks

In Indonesia, improved weather has positively impacted palm oil production, boosting figures by 7% from to 2.98 million tons in August. Exports soared, however, thanks to increased demand from the European Union, China and the US with 2.23 million tons heading to foreign markets, 29% higher than the previous month. Prices have increased to near $795 per ton in line with rising demand from global markets, even exceptionally higher demand such as the US whose imports jumped 183% from July to 135,150 tons in August.