InfoSAWIT, JAKARTA – Palm oil product exports in July 2022 reached 2.705 thousand tons or increased 371 thousand tons from June 2022 exports. It happened in crude palm oil (CPO) about 174 thousand tons, CPO process about 122 thousand tons and biodiesel about 23 thousand tons.
Biodiesel exports consistently increased since March 2022 that could happen for the increasing demands because of the expensive crude oil. But the increasing exports from Indonesia and other vegetable oil supply multiply the supply in the globe that makes vegetable oil price including CPO CIF Rotterdam get cheaper significantly from US$ 1.507/tons in June to be US$ 1.240/tons in July and domestic price (FOB) also got cheaper from Rp 10.523/kg to be Rp 8.322/kg.
“But the palm oil export values reached US$ 3,800 billion or slightly increased from US$ 3,768 billion in June,” Executive Director of Indonesian Palm Oil Association (IPOA), Mukti Sardjono as in the official statement to InfoSAWIT, Thursday (15/9/2022).
From the goal countries, the increasing exports in June to July were to India the most that reached +158,4 thousand tons, or from 212,4 thousand tons to be 370,8 thousand tons; then USA +127,1 thousand tons or from 95,0 thousand tons to be 223,1 thousand tons; China +107,9 thousand tons or from 416,2 thousand tons to be 524,0 thousand tons; and Malaysia +103,7 thousand tons or from 99,9 thousand tons to be 203,6 thousand tons.
The domestic consumption was relatively normal. For food industries, the consumption reached 937 thousand tons, or 3 thousand tons higher than those in June that reached 934 thousand tons while biodiesel consumption increased from 720 thousand tons to be 759 thousand tons (+5,4%).
CPO production in July 2022 reached 3.465 thousand tons and palm kernel oil (PKO) reached 338 thousand tons or increased 5,1% from June which reached 3.297 thousand tons for CPO and 322 thousand tons for PKO. The increasing CPO and PKO production reached 184 thousand tons and the same with the increasing exports which means, the stock decreased 6.688 thousand tons in June to be 5.905 thousand tons in July 2022. (T2)