InfoSAWIT, JAKARTA – Referring to Indonesian Palm Oil Association (IPOA), the decreasing exports namely to refined palm oil in general happened for the slight price disparity with the soybean.
The decreasing exports in May were in China reaching 87,7 thousand tons (-21%), in European Union reaching 81,5 thousand tons (-16,62%), in Pakistan reaching 47 thousand tons (-23,4%), and India reaching 38,6 thousand tons (-9,2%).
The decreasing export in China might happen for the increasing crushing oilseed (namely soybean) which was big enough and influenced the soybean stocks in the country.
“Though the exports decreased to some countries, some others increased their imports, such as, Egypt reaching 42 thousand tons or increased 81% from the exports in April 2020, Ukraine reaching 31 thousand tons (+99%), Philippine reaching 29 thousand tons (+73%), Japan reaching 19 thousand tons (+35%), and Oman reaching 15 thousand tons (+85%),” Executive Director of IPOA, Mukti Sardjono, said, as in the official statement to InfoSAWIT, Thursday (9/7/2020).
The export value decreased US$ 165 million or from US$ 1,64 billion to be US$ 1,47 billion. compared to the same period, January – May 2019, the CPO and PKO production in January - May 2020 reached 19.001 thousand tons or 14% smaller; the domestic consumption reached 7.334 thousand tons or increased 3,6 %; the export volume reached 12.736 thousand tons or decreased 13,7% but the export values increased from US$ 7.995 million to be US$ 8.437 million.
The CPO still got cheaper from US$ 564/ton in average in April to be US$ 526/ton CIF Rotterdam in May 2020. (T2)