IPOA: in April 2023, Palm Oil Export Volume and Value Decreased 19,2 Percent

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Palmoilmagazine.com, JAKARTA – According to the report by the Indonesia Palm Oil Association (IPOA), the total palm oil exports in April 2023 witnessed a significant decline of 500 thousand tons, equivalent to a decrease of 19.2% compared to March 2023. This decline was primarily driven by decreases in various categories.

Crude palm oil (CPO) exports decreased by 36.3%, derivative products of CPO decreased by 15.6%, derivative products of palm kernel oil (PKO) decreased by 36.2%, oleochemical exports decreased by 12.0%, and biodiesel exports decreased by 73.9%.

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Analyzing specific target countries, IPOA highlighted notable decreases in exports. China experienced a decline of 315.3 thousand tons, from 647.7 thousand tons to 332.4 thousand tons (-48.7%). Palm oil exports to African countries (excluding Egypt) decreased from 302.8 thousand tons to 197.3 thousand tons, reaching a decline of 143 thousand tons (-47.3%).

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Exports to India also decreased by 99 thousand tons, from 252.1 thousand tons to 160.1 thousand tons (-36.5%), while exports to the USA declined by 59 thousand tons, from 198.4 thousand tons to 139.5 thousand tons (-29.7%).

“April export volume could be the lowest since February 2022 except May 2022 when exports were banned. But year on year, total exports by April 2023 were higher 19,9% than those in 2022,” Executive Director of IPOA, Mukti Sardjono said, asin the official statement to Palmoilmahgazine.com, Thursday (15/6/2023).

The decreasing export volume was the same as the cheap CPO from US$ 1.031/ton CIF Rotterdam in March to be US$ 1.025/ton in April, CPO product exports also decreased from US$ 2.420 million in March to be US$ 1.961 million in April which were the lowest numbers for the past 11 months.

“Compared to 2022 until April 2022, export value until April 2023 would be 23,0% lower,” Mukti said. (T2)

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