Indonesia's CPO Export Volume in March Drops 80,000 Tons: Stocks Increase

Indonesia's CPO Export Volume in March Drops 80,000 Tons: Stocks Increase

Pamolimagazine, JAKARTA – According to Indonesian Palm Oil Association (IPOA), crude palm oil (CPO) export value in March 2022 reached US$ 3,5 billion or increased US$ 713 million from February 2022 which reached US$ 2,7 billion in the same period.

CPO export volume in March 2022 reached 2,01 million tons or 80 thousand tons lower than it in February which reached 2,09 million tons. The biggest decreasing products were in refined palm oil (from 1,6 million tons in February 2022 to be 1,54 million tons in March 2022) and oleo-chemical (from 298 thousand tons in February 2022 to be 342 thousand tons in March 2022).

“The biggest decreasing export country was Russia which reached up to 50%, then Malaysia which decreased up to 41% and Netherland which decreased up to 33%,” Executive Director of IPOA, Mukti Sardjono said, as in the official statement to Pamolimagazine, Thursday (19/5/2022).

The domestic consumption in March 2022 reached 1,50 million tons or increased from 1,37 million tons in February. The increasing consumption took place for food needs to be 635 thousand tons from 489 thousand tons in February (+146 thousand tons). Oleo-chemical consumption was relatively stable but biodiesel decreased a little bit to be 697 thousand tons from 710 thousand tons in February.

Still from IPOA report, CPO production in March increased to be 3,7 million tons and 368 thousand tons for palm kernel oil (PKO). February CPO production reached 3,5 million tons while February PKO production reached 329 thousand tons. This happened for the seasonal factor.

“The increasing production is a relief for it was stagnant in a very long period. By the domestic production, consumption, and export, the late March stock from 5,04 million tons to be 5,68 million tons,” Mukti said.  (T2)


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