InfoSAWIT, JAKARTA –Crude palm oil (CPO) production in August 2023 reached 3.855 thousand tons while palm kernel oil (PKO) production reached 366 thousand tons. The total reached 4.221 thousand tons. The numbers were lower than July 2023 production that reached 4.771 thousand tons.

But year on year (YoY) by August 2023, the production increased 14,8% or 4.678 thousand tons or higher than 2022 production that reached 31.609 thousand tons, to be 36.287 thousand tons in 2023.

Executive Director of Indonesian Palm Oil Association (IPOA), Mukti Sardjono said, August 2023 total consumption reached 2,037 thousand tons or higher 14,8% than it in July that reached 1.757 thousand tons.

This happened for the increasing biodiesel consumption that reached 237 thousand tons (+33%), from 719 thousand tons in July 2023 to be 956 thousand tons in August. “The increasing consumption happened in food sectors from 853 thousand tons in July 2023 to be 898 thousand tons in August 2023 while in oleochemical sector decreased 2 thousand tons,” Mukti said, as in the official statement to InfoSAWIT, Friday (27/2023).

August 2023 total exports reached 2.073 thousand tons or decreased 41% to bulan July 2023 exports that reached 3.519 thousand tons. These happened for the lower production in this country but consistently increasing absorption.

With the total export, it is predicted that the export values in August 2023 could be US$ 1.683 million. The numbers were less than July 2023 export that reached US$ 2.918 million. “Early August 2023 estimation stock could be 3.128 thousand tons with the decreasing production 11,5% and increasing consumption 15,9% it means, the last August 2023 stock could be about 3.244 thousand tons,” Mukti said. (T2)