Indonesia's Palm Oil Export Volume Plummets in May 2022

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Vika Azkiya Dihni 19/07/2022 15:40 WIB

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According to GAPKI records, palm oil export volume in May 2022 was only 678,000 tons, a 68% plunge from April's exports of 2,089,000 tons.

Indonesia's Palm Oil Export Volume (May 2021 - May 2022)

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Indonesia's Palm Oil Export Volume Plummets in May 2022

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Indonesia's Palm Oil Export Volume (May 2021 - May 2022)

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According to data from the Indonesian Palm Oil Producers Association (GAPKI), national palm oil exports in May 2022 reached only 678,000 tons.

This figure plummeted 68% from the April 2022 export volume of 2.1 million tons.

This drastic decrease occurred due to the export ban on palm oil implemented from April 28 to May 22, 2022.

(Read Also: Even Regular Customers, India Didn't Get Indonesian CPO in May 2022)

GAPKI noted that the largest decrease in May 2022 occurred in the export volume of crude palm oil (CPO) and CPO derivatives.

Meanwhile, the export volume of palm oil derivative products such as oleochemicals and biodiesel in May 2022 was relatively the same as in April 2022.

GAPKI also reported that the CPO CIF Rotterdam price in May 2022 was US$1,714/ton, down compared to the April 2022 price of US$1,719/ton. The domestic tender price also fell from US$1,144.7 in April 2022 to US$936.0 in May 2022.

This drop in CPO prices also affected the weakening production and price of fresh fruit bunches (FFB) received by farmers.

"The export ban policy not only affected export performance but also production. Agronomically, the production of FFB plants increased, but industrially, CPO production was 18% lower than April's production," GAPKI stated in its press release on Friday, July 15, 2022.

(Read Also: Export Ban Lifted, Indonesian CPO Trade Rebounds in June 2022)

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 Volume Plummets in May 2022

Indonesia's Palm Oil Export Volume Plummets in May 2022

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