Global CPO Import Demand Projected to Reach 50.6 Million Tons in 2021/2022

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Viva Budy Kusnandar 10/03/2022 15:00 WIB

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Global CPO import demand is projected to increase by 6.3% from November 2021 to October 2022 compared to the previous period.

Global Crude Palm Oil (CPO) Import Demand Projection (2020/2021 and 2021/2022*)

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Global CPO Import Demand Projected to Reach 50.6 Million Tons in 2021/2022

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Global Crude Palm Oil (CPO) Import Demand Projection (2020/2021 and 2021/2022*)

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The United States Department of Agriculture (USDA) estimates that global crude palm oil (CPO) import demand will reach 50.6 million tons for the period November 2021-October 2022.

This figure represents a 6.3% increase compared to the November 2020-October 2021 period.

The largest CPO demand is projected to come from India, reaching 8.6 million tons for the 2021/2022 period. This amount shows a 1.18% growth compared to the previous period's 8.5 million tons.

This increase in Indian CPO demand is expected to align with the reduction of import duties on palm oil to that country.

The next largest CPO import demand is projected to come from China, at 7.2 million tons for the 2021/2022 period. This figure represents a 5.88% increase from the previous year's 6.8 million tons.

CPO imports from the European Union (EU 27) are projected to increase by 11.29% to 6.9 million tons throughout the 2021/2022 period, compared to the previous period's 6.2 million tons.

Similarly, imports from other countries are projected to grow by 6.9% to 27.9 million tons for the 2021/2022 period, compared to the previous period's 26.1 million tons.

Currently, Indonesia is the world's largest exporter of palm oil. According to data from the Central Statistics Agency (BPS), Indonesia's CPO exports in 2021 reached 26.9 million tons with a total value of US$28.52 billion.

Indonesia's largest CPO exports in 2021 were to China, with a volume of 4.7 million tons valued at US$4.83 billion. This was followed by India, with a volume of 3.03 million tons valued at US$3.28 billion.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."