* Indonesia produced 2.77 mln tonnes CPO in May - median estimate
* Output, exports seen at highest since at least August
... In related news, Indonesia, the world's top exporter of the
edible oil, has delayed the implementation for its planned levy
on CPO exports to July 1 from June 15.
The survey pegged Indonesian palm stocks at 2.54 million
tonnes for May, compared with 2.602 million in April.
Domestic consumption was estimated to range between 500,000
and 700,000 tonnes.
The Indonesian Palm Oil Association (GAPKI) publishes
monthly data provided by a professional surveyor, which showed
April exports at 2.254 million tonnes.
The Reuters survey includes contributions from the
Indonesian Palm Oil Board, GAPKI, the Indonesian Vegetable Oil
Industry Association and PT Sinar Mas Agro Resources &
Technology, one of the largest listed palm companies.
Below is a table of median Reuters CPO survey results and GAPKI palm & kernel oils export data for 2014/2015 (forecasts in million tonnes).
Month Output Exports Inventories GAPKI export data May 2.774 2.150 2.540 ---- April 2.662 2.046 2.602 2.25 March 2.397 1.800 2.667 2.03 February 2.049 1.750 2.425 1.79 January 2.056 1.658 2.413 1.81 --------------------------------------------------- December 2.165 1.837 2.325 1.97 November 2.306 2.100 2.225 2.26 October 2.385 1.820 2.378 2.47 September 2.675 1.750 2.500 1.70 August 2.750 1.720 2.575 1.72