PALMOILMAGAZINE, JAKARTA – Indonesia’s crude palm oil (CPO) and palm kernel oil (PKO) production for 2024 reached 52.76 million tons, with CPO contributing 48.16 million tons and PKO 4.60 million tons. According to the Indonesian Palm Oil Association (GAPKI), this marks a 3.80% decline from the 54.84 million tons produced in 2023.
GAPKI data shows that Indonesia’s palm oil export value in 2024 stood at $27.76 billion (Rp 440 trillion), an 8.44% decrease from 2023’s $30.32 billion (Rp 463 trillion). This $1.56 billion (Rp 23 trillion) decline was driven by a drop in nearly all palm oil and derivative product exports, except for oleochemicals, which saw an increase. Despite this, the average Freight on Board (FOB) price of palm oil products continued to rise.
At the end of 2024, GAPKI estimated CPO and PKO stock levels at 2.58 million tons, 18.06% lower than the 3.15 million tons recorded in the previous year. Given the rising domestic consumption—particularly for biodiesel—along with global vegetable oil supply and demand trends, GAPKI projects that palm oil production will rise to 53.6 million tons in 2025. Domestic consumption is expected to reach 26.1 million tons, including 13.6 million tons for the B40 biodiesel program. However, exports are anticipated to decline further to 27.5 million tons, down from 2024’s 29.5 million tons.
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GAPKI’s 44th-anniversary celebration was attended by its board members, industry stakeholders, and representatives from farmer associations such as Aspekpir, Samade, and the Palm Oil Farmers Union (SPKS). GAPKI Chairman Eddy Martono welcomed the guests and expressed his gratitude to Deputy Assistant II at the Coordinating Ministry for Economic Affairs, Dida Gardera, Director of SALMA at the Ministry of Agriculture, Ardi Praptono, and various farmer association representatives. (P1)
