InfoSAWIT, JAKARTA – According to Indonesian Palm Oil Association (IPOA) July 2023 exports reached 3,51 million tons or escalated 2,0% compared to June 2023 exports that reached 3,45 million tons.

The biggest increasing exports were crude palm oi CPO that reached 589 thousand tons or increased 16,9% from June 2023 that reached 504 thousand tons. In the contrary, CPO derivative exports decreased 3,4% from 2.487 thousand tons in June 2023 to be 2.403 thousand tons in July 2023.

Executive Director of IPOA, Mukti Sardjono said the increasing July 2023 palm oil exports also increased the numbers 1,4% or from US$ 2.877 million in June 2023 to be US$ 2.918 million in July 2023.

“The biggest increasing exports were to India and Bangladesh. Each increased 180,6 thousand tons and 54,5 thousand tons,” he said, as in the official statement to InfoSAWIT, Friday (29/9/2023).

He also told, the increasing exports were also to Malaysia (+36,8 thousand tons), USA (+36,8 thousand tons) and European Union (+24,4 thousand tons). The biggest decreasing exports were to Africa (-126,2 thousand tons), China (-94,6 thousand tons) and Pakistan (-58,1 thousand tons). In YTD by July 2023, exports to India in 2023 were higher 87% from 2022 exports, while the exports to China were higher 78%.

“Palm oil stock estimation in the early of July 2023 would be 3.629 thousand tons or the production increased 7,9%, the consumption decreased 10,5% and exports increased 2,0%. It means, the last July 2023 stocks could be 3.128 thousand tons or decreased 13,8% to June 2023 that reached 3.629 thousand tons,” Mukti said. (T2)