Malaysia and Indonesia: 2010 palm oil ending stocks seen almost unchanged on year

According to Oil World, Malaysia will produce 17.8 mln t of palm oil in 2010 which is up from last year’s 17.6 mln t. Imports are seen at 840,000 (920,000) t, exports at 16.5 (15.9) mln t and domestic use at 2.4 (2.4) mln t, leading to ending stocks of 2.0 (2.2) mln t.
Production in Indonesia is projected to increase to 22.5 (20.9) mln t with exports seen rising to 17.2 (16.1) mln t. Domestic use is expected at 5.3 (4.9) mln t which should lead to ending stocks of 1.7 (1.6) mln t.
(Oil World, March 5, 2010)