PALMOILMAGAZINE, JAKARTA – In May 2023, the production of Crude Palm Oil (CPO) and Palm Kernel Oil (PKO) saw a remarkable increase of 12.4% compared to the previous month. This surge can be attributed to the occurrence of Lebaran holidays, which led to a deviation from the usual harvesting patterns. Moreover, when compared to May 2022, the CPO and PKO production in May 2023 witnessed a substantial rise of 15%.
However, despite the surge in production, total consumption in the country during May 2023 experienced a decline of 4.2% from the previous month (April 2023). Notably, the largest decrease in consumption was observed in biodiesel, which dropped by 10.4%, followed by oleo-chemical with a decrease of 1.5%.
On the other hand, when considering the cumulative data from January to May 2023, certain sectors showed positive trends in consumption. Specifically, the consumption of biodiesel and oleochemical increased by 5% and 5.6%, respectively. Additionally, the food industries experienced a significant surge in consumption, recording a notable increase of 29.3% during the same period.
Also Read : Exploring the Potential of Sabah Palm Oil Biomass Policy
“Total consumption per May 2023 increased 15,4% to be at 9.114 from 7.898 in the same period last year,” Executive Director of Indonesian Palm Oil Association Mukti Sardjono said, as in the official statement to Palmoilmagazine.com, Friday, (21/7/2023).
Though palm oil and its derivative consumption increased in this country, the increasing production and high stock made the end stock by May 2023 reached 28,7% to be at 4,67 million tons or increased 1,04 million tons from 3,63 million tons in April 2023. (T2)
