Stocks Decline, Indonesian Palm Oil Consumption Increases 10.2 Percent in October : Biodiesel Highest

Palm Oil Magazine
Stocks Decline, Indonesian Palm Oil Consumption Increases 10.2 Percent in October 2023. Photo by: Palmoilmagazine.com

PALMOILMAGAZINE, JAKARTA – In October 2023, the palm oil industry demonstrated a commendable performance. The production of crude palm oil (CPO) reached an impressive 4.52 million tons, reflecting a substantial 9.2% increase from September’s production of 4.14 million tons.

This positive trend extended to palm kernel oil (PKO) as well, with production rising to 430 thousand tons from 394 thousand tons in September, marking a notable increase of 9.1%.

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Mukti Sardjono, the Executive Director of the Indonesian Palm Oil Association (IPOA), highlighted that the upswing wasn’t limited to CPO and PKO production alone. The overall consumption also experienced a significant boost, reaching 2.18 million tons—a substantial 10.2% surge compared to September’s consumption of 1.97 million tons. One noteworthy contributor to this increased consumption was the notable rise in biodiesel demand.

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“Biodiesel consumption increased so much or from 924 thousand tons in September to be 1,16 million tons in October. This reflected that biodiesel was used as the environmental alternative fuel,” he said, as in the official statement to Palmoilmagazine.com, Tuesday (19/12/2023).

In the contrary, food consumption decreased 3,5%, or from 865 thousand tons in September to be 835 thousand tons in October. Oleochemical also decreased 2,1%, or from 190 thousand tons in September to be 186 thousand tons in October.

These showed that palm oil industries maintained not only high level – production but also escalate the consumption in the domestic. Within higher biodiesel consumption, this sector positively contributed to reduce green-house gas emission but maintained environment sustainably.

Though food and oleochemical consumption decreased, the whole things were positive to escalate the economy and reinforce the position of Indonesia as one key player in palm oil industries globally. It is hoped, the positivity would always be escalating through innovation, sustainability and cooperation between the government and other stakeholders. (T2)

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