18/11/2016 (Reuters) - Indonesia's crude palm oil (CPO) output likely rose for a sixth month in October while exports were seen rising as buyers build up inventories.

CPO production likely increased by 5.6 percent to 3.06 million tonnes, according to the median estimate in a survey of three industry associations and a state palm research firm.   

Output steadily rose since May as the world's top producer of palm oil recovers from the after-effects of a drought caused by the El Nino.

October exports of Indonesian CPO were seen at 2.23 million tonnes, up 11 percent from 2 million in the previous month.

"Previously, in August to September, they (buyers) were letting their stocks diminish. Now they have started to rebuild the stock," said Derom Bangun, chairman, Indonesian Palm Oil Board (IPOB).

Domestic consumption was estimated to be between 897,000 tonnes and 937,000 tonnes, compared with 926,700 tonnes to 1.033 million tonnes in September.

Meanwhile, domestic palm stock is seen building to 1.95 million tonnes from 1.74 million, the survey showed.

Indonesian Palm Oil Association (GAPKI) data showed the country exported 1.73 million tonnes of palm oil and palm kernel oil in September. The October data is not available as yet. 

The October survey comprises responses from GAPKI, the IPOB, the Indonesian Vegetable Oil Industry Association and the Indonesian Oil Palm Research Institute.
 
Below is a table of the median responses to the Reuters CPO survey and GAPKI palm and palm kernel oil export data for 2015/2016 (in million tonnes).

   Month    Output   Exports  Inventories  GAPKI export

                                               data

 October      3.064    2.225        1.945             --

 September    2.900    2.000        1.738           1.73

 August       2.833    1.740        1.700           2.07

 July         2.802    1.875        1.875           1.60

 June         2.464    1.798        1.712           1.78

 May          2.188    1.919        2.100           1.76

 April        2.132    1.928        2.250           2.09

 March        2.150    1.895        2.592           1.74

 February     2.300    2.010        3.633           2.29

 January      2.440    2.005        2.025           2.10

 2015                                                   

 December     2.457    2.675        2.425           2.51

 November     2.800    2.093        2.950           2.39

 October      3.010    2.213        3.025           2.61

 September    3.100    2.235        3.050           2.34

 August       3.198    1.885        3.392           2.10

 July         2.856    1.920        3.200           2.09

 June         2.800    2.400        3.046           2.27

 May          2.774    2.150        2.540           2.22

 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