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February 2018, Palm Oil Trade Was Less Caused by Low Purchase



February 2018, Palm Oil Trade Was Less Caused by Low Purchase

InfoSAWIT, JAKARTA – Based on the report of Indonesian Palm Oil Association (IPOA), in February 2018 palm oil exports from Indonesia decreased about 14%. In the period, the global crude palm oil (CPO) was cheap about US$652.50 – US$ 685 permetric ton.

InFebruaryCPO export volume (not include biodiesel and oleochemical) just reached 2,37 milliontonsordecreasedabout 370,77 thousandtonscompared to Januarythat reached 2,74 milliontons. The low purchase caused by the Chinese religious day and the short dates in the period which made the unmaximal purchase.

In every year, the purchase in Februarywould be less too so that the exports are less than in January. If it is seen fromyear on year (yoy) the total export volume fromJanuary-February 2018 reached 5,1 milliontonsordecreased 3% compared to the same period in last year that reached 5,3 milliontons.

This February, the Middle East countries increased their demands reaching 41% orfrom 148,06 thousandtonsinJanuary, increasedto be 209 thousandtonsin February. The increasing CPO demands in the countries were normal because of the monthly demand pattern. If in the previous month the demands decreased, the next month demands would increased.

“The increasing demands were in China reaching 6%, orfrom 307,49 thousandtonsin January, increasedto be 326,30 thousandtonsinFebruary. It was normal to because of their religious day,” Vice Chairman III, IPOA, Togar Sitanggang said in the official statement to InfoSAWIT, Monday (23/4/2018).

Meanwhile the main countries to exports also decreased their demands. The significant decreasing happened in United States of America, reaching 50%, orfrom 193,47 thousandtonsinJanuary, decreased to be 95,99 thousandtonsinFebruary. It happened for much stock of soybean oil. The decreasing demands took place in India, reaching 26%, Pakistan 22%, European Union 17%, Africa 16%,and Bangladesh 4%. (T2)

 


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