Indonesian Palm Oil Production Rose 7.5% by September 2023 Amid Shifting Consumption Patterns

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Doc. Palmoilmagazine.com / CPO

PALMOILMAGAZINE, JAKARTA – In September 2023, crude palm oil (CPO) production rose to 4.14 million tons, reflecting a 7.5% increase compared to August 2023, which saw production at 3.85 million tons. Palm kernel oil (PKO) production also experienced growth, reaching 394 thousand tons in September, a 7.6% increase from the 366 thousand tons recorded in August 2023.

Total consumption in Indonesia for September 2023 amounted to 1.97 million tons, indicating a 2.9% decrease from the August figure of 2.03 million tons. The most substantial decline occurred in biodiesel consumption, dropping from 956 thousand tons in August 2023 to 924 thousand tons in September.

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Additionally, food consumption decreased from 898 thousand tons to 865 thousand tons. On the other hand, oleochemical consumption increased to 190 thousand tons in September from 183 thousand tons in August 2023.

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Indonesian Palm Oil Association (IPOA) mentioned, that September 2023 total exports increased 29,9% to be 2,69 million tons from the previous month that reached 2,07 million tons.

They happened in CPO products from 1,24 million tons in August to be 1,96 million tons in September. PKO products exports also increased from 78 thousand tons August to be 130 thousand tons in September while oleochemical exports decreased from 416 thousand tons in August to be 333 thousand tons in September.

“The biggest decreasing exports were to China from 920 thousand tons in August to be 781 thousand tons in September while the exports to India also decreased from 744 thousand tons in August to be 352 thousand tons in September,” Executive Director of IPOA, Mukti Sardjono said, as in the official statement to Palmoilmagazine.com, Tuesday (21/11/2023).

September 2023 stocks reached 3,23 million tons, the production reached 4,53 million tons, the consumption reached 1,97 million tons and exports reached 2,69 million tons. “The final stock in September 2023 reached 3,10 million tons or lower than August 2023 stock that reached 3,23 million tons,” Mukti said. (T2)

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