CPO Production in June Escalated 6%

Doc. InfoSAWIT
CPO Production in June Escalated 6%

InfoSAWIT, JAKARTA – Indonesian Palm Oil Association (IPOA) reported, crude palm oil (CPO) production in June 2022 escalated 6% to be 3.297 thousand tons, while palm kernel oil (PKO) increased to be 322 thousand tons.

The increasing CPO production was the same with the increasing fresh fruit bunch (FFB) but it was not processed still because the tanks at many mills are not 100% empty.

“From the production, consumption, and export informed before, the last stocks in June 2022 could be reaching 6.683 thousand tons, or lower than May 2022 last stocks that reached 7.233 thousand tons,” Executive Director of IPOA, Mukti Sardjono said, as in the official statement to InfoSAWIT, Thursday (11/8/2022).

In the global markets, CPO price at Ciff Rotterdam got cheper from US$ 1.714 in May to be US$ 1.573/ton in June. In Indonesia, the average CPO price (based on tender at PT KPBN) in June got cheaper from about Rp 13.000/kg in the early of June to be about Rp 8.500/kg by the past of June.

This indicated exports in June were not significant to reduce the high stocks in this country and could not make CPO much better in this country. (T2)