InfoSAWIT, JAKARTA - For China would get better increasing fat and oil imports, palm oil demands would be also increasing from 5,39 million tons (PO and HPS) in 2022. Oil World predicted CPO output would be increasing 3,22 million tons in 2022/23. There would be more palm oil exports from two major producers in 2023.
The different price between PL and soybean oil (SBO) that could be about RM 1.500 (US$ 220/ton) in China, PL would remain something interesting to substitute SBO for some food applications.
This would be encouraged by some prospects, such as, catering sectors would recover from what they faced in 2022 and at least, the sectors would escalate fat and oil demands about 20% with annual same income level with pre-Covid in 2019.
The other positive signs to increase pre-order (PO_ demands in the country is that substitution policies and soyoil substitution to be woof animals that started to deliver impacts by destroying it.
According to a statement by Ministry of Agriculture and Rural and non-government organization (NGO), soyoil destruction would only increase 4,0 million tons. This would increase additional soyoil production in 23/2022 that reaches 720 thousand tons. By the limited sunflower oil (SFO) supply, rapeseed and SBO would fulfill the emptiness because of the lower SFO imports in China. This would potential escalate palm oil import in the country. (T2)