Indonesia CPO Exports Surge by 4.5% in May 2023

Palm oil magazine
Doc. Palmoilmagazine.com / CPO reference price to decided Out Fee and tariff in Public Service Obligation Palm Oil Plantation Fund Management Agency or levy on 16–30 June 2023, was US$ 723,45/ton.

PALMOILMAGAZINE, JAKARTA – Based on data from the Indonesian Palm Oil Association (IPOA), Indonesia’s total palm oil product exports showed a significant increase of 4.5% in May 2023 when compared to the exports in April 2023.

These exports reached various countries, including India, which saw a substantial rise of 168.3 thousand tons or 105.1%. Additionally, African countries, excluding Egypt, also experienced increased imports of Indonesian palm oil, with a notable rise of 85.5 thousand tons or 43.3%. Egypt’s imports also grew, with an increase of 46.5 thousand tons or 128.8%.

Read More

However, it is worth noting that Indonesia’s palm oil exports to the European Union – EU-27 witnessed a decrease of 73.1 thousand tons or 22.5%. Moreover, exports to Pakistan declined by 58.4 thousand tons or 21.1%, and exports to Bangladesh decreased by 52.4 thousand tons or 51.3%.

Also Read : Impressive 12.6% Increase in May 2023 Palm Oil Stock in Malaysia

On a year-on-year basis (YoY), the cumulative total export by May 2023 demonstrated a remarkable increase of 33.5%, reaching 12,864 tons compared to 9,633 tons in 2022.

Executive Director of IPOA, Mukti Sardjono, total palm oil exports by May 2023 reached US$ 2,05 billion or increased 4,6% from the same period in last year.

“Though CPO price at CIF Rotterdam in May 2023 (US$ 940/ton) was cheaper than it in April (US$ 1023/ton), the average transaction actually increased to some countries, such as, India, Bangladesh, some countries in Asia and states of USA,” Mukti said. (T2)

Follow the Whatsapp channel "Palm Oil Magazine News Update", click the link PalmoilMagazine News Update | or you can follow Telegram "PalmOilMagazine", click the link PalmOilMagazine

FOLLOW MORE NEWS AT GOOGLE NEWS.

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *