InfoSAWIT, JAKARTA – Indonesian Palm Oil Association (IPOA) reported that total palm oil exports in May 2023 increased 4,5% compared to the previous month. the biggest exports happened to India (+168,3 thousand tons or +105,1%), then African countries besides Egypt (+85,5 thousand tons or +43,3%) and Egypt (+46,5 thousand tons or +128,8%).

The biggest decreasing exports happened to European Union countries -27 (-73,1 thousand tons or -22,5%), Pakistan (-58,4 thousand tons or -21,1%), and Bangladesh (-52,4 thousand tons or -51,3%). In year on year (YoY), the total palm oil exports by May 2023 increased 33,5% to be 12.864 thousand tons from 9.633 thousand tons in 2022.

Total May 2023 export values reached US$ 2,05 billion or increased 4,6% from the same period last year though CPO CIF Rotterdam in May 2023 (US$ 940/ton) was cheaper than it in April 2023 (US$ 1.023/ton).

“The average actual transaction also increased to some countries, such as, India, Bangladesh, and some countries in Asia and United State,” Executive Director of IPOA, Mukti Sardjono said, as in the official statement to InfoSAWIT, Tuesday, (22/8/2023). (T2)