InfoSAWIT, JAKARTA – According to the reports of Indonesian Palm Oil Association (IPOA), palm oil production in March 2023 seasonally increased about 12% compared to February 2023 to be 4,3 million tons of crude palm oil (CPO), from 3,8 million tons in February, and 413 thousand tons for palm kernel oil (PKO) from 369 thousand tons in the previous month.

It was contrary with palm oil exports that decreased from 2,9 million tons in February to be 2,6 million tons in March 2023.

Executive Director of IPOA, Mukti Sardjono said, the biggest decreasing numbers happened for derivative products which reached from 2,25 million tons in February to be only 1,88 million tons in March.

“Based on the exporter countries, the biggest decreasing exports took place in China (-242,8 thousand tons), Egypt and Middle East (-129,4 thousand tons), Bangladesh (-50,5 thousand tons), India (-68,3 thousand tons), Netherland (-54,9 thousand tons) and Malaysia,” Mukti said, as in the official statement to InfoSAWIT, Friday (12/5/2023).

The increasing exports took place in the United States of America, Spain, Russia, and Pakistan. “The decreasing exports caused the decreasing values from US$ 2,68 billion in February to be US$ 2,25 million in March, though CPO price at CIF Rotterdam in  March was US$ 1.030/ton which was more expensive than it in February which was US$ 997/ton (+3,2%),” Mukti said. (T2)