PALMOILMAGAZINE, JAKARTA – Indonesia witnessed a surge in palm oil exports, reaching a total of US$ 34.94 billion, equivalent to 39.65 million tons in 2022.
This marked a 5.76 percent increase compared to the previous year, 2021. Notably, one of Indonesia’s largest palm oil importers was India, which accounted for a substantial value of US$ 5.65 billion.
According to data from Oil World 2023, India imported a significant quantity of vegetable oils totaling 16.5 million tons. Out of this figure, approximately 9.9 million tons constituted palm oil.
Also Read : Nearly 15% Decrease in Vegetable Oil Imports in India in May 2023
Indonesia and Malaysia jointly contributed 5.2 million tons, comprising 51.04 percent of India’s overall palm oil imports, while Malaysia alone contributed 2.86 million tons, constituting 28.46 percent of India’s total palm oil imports.
India is the biggest palm oil export from Indonesia with the value reaching US$ 5,65 billion, then China US$ 4,91 billion, European Union US$ 4,36 billion, Pakistan US$ 3,14 billion, and United States of America US$ 2,37 billion, as Palmoilmagazine.com quoted from the official page of Ministry of Trade.
The significant export progress in palm oil is positive for the economy of Indonesia. besides India, China, European Union and USA are significant ones for palm oil products from Indonesia and they delivered massive export values. (T2)
