KONTAN.CO.ID - JAKARTA. Indonesia's palm oil stocks at the end of October fell 10% from a month earlier to 2.33 million metric tons despite an increase in production, data from the Indonesian Palm Oil Association showed on Thursday.

Domestic consumption rose by 8.5% to 2.22 million tons, driven by rising demand for biodiesel and food consumption.

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Production of crude palm oil in October was 4.35 million tons, up from 3.93 million tons in September. In the January-October period, output rose by nearly 10%, GAPKI said.

Indonesia exported 2.8 million tons of palm oil products in October, down around 3% from the same month last year. 

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