03.11.2019 (Hellenic Shipping News Worldwide) - Indonesia palm oil price is seen averaging at $600 per tonne in the first half of next year, an increase from an earlier estimate of $580 per tonne, leading industry analyst Thomas Mielke said.

Global consumption has started to exceed output and world’s stockpiles of palm oil are expected to drop by 2-3 million tonnes in the next 12 months from 14.7 million tonnes, said Mielke, editor of Oil World, the Hamburg, Germany-based newsletter, at a palm conference in Indonesia’s Bali island.

Source: Reuters (Reporting by Fransiska Nangoy Editing by Shri Navaratnam)