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Indonesia's Palm Oil Export Value Soared in 2022, Reaching a Decade High

Cindy Mutia Annur 28/07/2023 13:00 WIB

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Indonesia's palm oil export value has continued to surge over the past three years, reaching a record high in 2022.

Indonesia's Palm Oil Export Volume and Value (2012-2022)

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Indonesia's Palm Oil Export Value Soared in 2022, Reaching a Decade High

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Indonesia's Palm Oil Export Volume and Value (2012-2022)

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Palm oil or crude palm oil (CPO) is one of Indonesia's leading export commodities. So, what is the export trend of this commodity in the last decade?

According to data from the Central Statistics Agency (BPS), Indonesia's CPO exports reached US$29.62 billion in 2022. This figure is up 3.56% year-on-year (yoy), and is the highest record in the last decade.

The value of Indonesia's CPO exports has also consistently increased since 2020, although export volumes have continued to decline over the past three years.

In 2022, Indonesia's CPO export volume fell 28.5% (yoy) to 26.22 million tons. In 2019, export volume reached 29.54 million tons.

This shows that the increase in the value of Indonesian palm oil exports is not supported by increased production, but rather by a surge in CPO prices in the global market.

Based on data from the Rotterdam Commodity Exchange, on January 10, 2019, the CPO price was still at US$525 per metric ton. Then the price tended to continue to rise until it reached US$1,030 per metric ton on December 30, 2022.

The highest CPO price last year was recorded on March 1, 2022, reaching US$1,975 per metric ton.

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."

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Indonesia's Palm Oil Export Value Soared in 2022, Reaching a Decade High

Indonesia's Palm Oil Export Value Soared in 2022, Reaching a Decade High

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Indonesia's Palm Oil Export Value Soared in 2022, Reaching a Decade High

Indonesia's Palm Oil Export Value Soared in 2022, Reaching a Decade High

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