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June 2023 Palm Oil Exports from Indonesia Increased 54 Percent

Doc. InfoSAWIT
June 2023 Palm Oil Exports from Indonesia Increased 54 Percent

InfoSAWIT, JAKARTA – Indonesian Palm Oil Association (IPOA) reported that June 2023 palm oil exports reached 3,45 million tons or increased 54,7% compared to May 2023 exports that reached 2,23 million tons. The biggest numbers were crude palm oil (CPO) derivative products that reached 2,48 million tons or increased 52,4% from those in May 2023 that reached 1,63 million tons.

CPO exports also increased fantastically that reached 265,2%. May 2023 CPO exports reached 138 thousand tons to be 504 thousand tons in June 2023. “June 2023 increasing palm oil exports escalated the values that reached 40,2% or from US$ 2.052 million in May to be US$ 2.877 million in June 2023,” Executive Director of IPOA, Mukti Sardjono said, as in the official statement to InfoSAWIT, Thursday, (24/8/2023).

The biggest exports were to China, India, and Pakistan that increased 391,6 thousand tons, 390,6 thousand tons, and 133,0 thousand tons for each. They also increased to United States of America that reached 35,5% to be 197,3 thousand tons in June 2023 from 145,6 thousand tons in May 2023.

Mukti continued, apart from the polemic about European Union Deforestation Regulation (EUDR) would implement or not, European countries increased their imports 23,6% to be 311,4 thousand tons in June 2023 from 251,9 thousand tons in May 2023, year to date (YTD) in June 2023. EU increased their imports 13,0% that reached 1.979,9 thousand tons from 1.751,7 thousand tons YTD in June 2022.

“June 2023 final stock could be about 3,68 million tons or decreased 21,1% compared to May 2023 stock that reached 4,67 million tons,” Mukti said. (T2)