Indonesian January palm oil exports fall 23 percent
Indonesia's palm oil exports dropped 23 percent in January from the previous month to 1.57 million t…Indonesia's palm oil exports dropped 23 percent in January from the previous month to 1.57 million tonnes due to declining demand in India and Pakistan, said the Indonesian Palm Oil Association on Friday. Exports to India in January reached 261,400 tonnes, down 54 percent from December, after the South Asian country increased its import duties on refined oil to 10 percent from 7.5 percent, the industry group said.
Indonesia's exports to Pakistan dropped 42 percent to 67,900 tonnes, while shipments to the European Union declined 17 percent and fell 2 percent to China. Shipments to the United States increased 22.5 percent in January to 36,600 tonnes.
