Driven by Demand and Price Improvements, Palm Oil Export Volume Increased by 11.3% in October 2021

The Indonesian Palm Oil Producers Association (GAPKI) reported an 11% increase in Indonesian palm oil exports in October 2021 compared to the previous month. This was driven by increased demand and improved prices.

The increase in palm oil exports in October 2021 followed a significant decrease in September. Recorded exports totaled 3.21 million tons in October 2021, an increase of 230,000 tons compared to September's 2.88 million tons.

In value terms, palm oil exports in October 2021 reached US$3.67 billion or Rp 52.16 trillion. This figure is up 18% compared to September's US$3.11 billion.

Increased export demand came from almost all regions. The highest increase was to Egypt, reaching 165,100 tons in October 2021. This figure surged by 110,700 tons or 203.3% compared to the previous month.

Furthermore, palm oil exports to China reached 698,800 tons in October 2021. This figure increased by 73,700 tons or 11.79% compared to September.

Exports to European Union countries in October 2021 increased by 91,600 tons or 26.79% compared to September. Meanwhile, exports to India amounted to 245,600 tons, down 86,200 tons or 25.97% compared to the previous month.

Palm oil products exported in October 2021 included crude palm oil (CPO) at 147,000 tons, processed CPO at 2.5 million tons, processed CPKO at 187,000 tons, biodiesel at 13,000 tons, and oleochemicals at 358,000 tons.

Overall, palm oil product exports from January to October reached 28.89 million tons. This is a 6.6% increase compared to the same period last year, which recorded 27.11 million tons.