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Indonesia Oct CPO output, stocks seen up after peak harvest -survey

JAKARTA, Nov 17 (Reuters) - Indonesia's crude palm oil output was forecast to have risen for the fifth straight month in October as palm harvest peaked, boosting stockpiles, a Reuters survey showed on Friday. Production of crude palm oil (CPO) in the world's biggest grower likely rose to 3.95 million tonnes from 3.63 million tonnes in September, according to the median estimate in a survey of two industry associations and a state palm research firm. Last month's output should be higher as it was the peak harvest month, said Hasan Hasril Siregar, director at the Indonesian Oil Palm Research Institute. Production in November should fall back to September levels, he said. Indonesia's CPO exports were estimated to have reached 2.75 million tonnes in October compared with 2.69 million tonnes in September, the survey showed. Domestic stockpiles likely rose to 3.14 million tonnes from 2.4 million tonnes, according to the survey. The Southeast Asian country exported 2.76 million tonnes of palm oil and palm kernel oil in September, data from the Indonesian Palm Oil Association (GAPKI) showed last week. GAPKI is expected to release the October figures early next month.

Fadhil Hasan, a board member of GAPKI, had estimated Indonesia's palm oil output at 36.5 million tonnes for 2017 and expected it to increase to 38.5 million tonnes next year.

Apart from the Indonesian Oil Palm Research Institute, other companies surveyed were the Indonesia Palm Oil Board and Indonesia's Vegetable Oil Association. Below is a table of the median forecasts in the Reuters surveys for CPO output, exports and stockpiles as well as the GAPKI palm and palm kernel oil export data going back to 2016. Figues in million tonnes.

Month Output Exports Inventories GAPKI palm &

kernel oils exports

October 3.949 2.750 3.144 -- September 3.630 2.685 2.400 2.76 August 3.587 2.714 2.600 2.98 July 3.530 2.400 2.422 2.4 June 3.200 2.200 1.300 2.13 May 3.375 2.375 1.094 2.62 April 2.904 2.162 1.306 2.57 March 3.078 2.093 2.300 2.47 February 2.800 2.406 2.000 2.53 January 2.949 2.214 1.475 2.72

2016

December 3.218 2.382 1.886 2.68 November 3.310 2.221 1.786 2.84 October 3.064 2.225 1.945 2.41 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 1.6 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 2.1

(Writing by Fransiska Nangoy; Editing by Manolo Serapio Jr.)