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Palm Oil Exports from Indonesia in 2020 - 2022 Decreased

Doc. InfoSAWIT
Palm Oil Exports from Indonesia in 2020 - 2022 Decreased

InfoSAWIT, JAKARTA – Palm oil exports from Indonesia in HS group showed interesting pattern in 2022 within other palm oil (HS 15119000) becoming the biggest commodity contributing 81,79 percent to palm oil exports totally.

The other contribution significantly was from crude palm oil (HS 15111000), other palm oil kernel (HS 15132900), and crude oil of palm kernel (HS 15132110) that reached 13,13 percent, 4,67 percent, and 0,41 percent of each to total exports.

As InfoSAWIT quoted from Buku Statistik Kelapa Sawit Indonesia 2022 published by Central Bureau of Statistic, the export volume in 2018 to 2019 increased. But in 2020 - 2022 they decreased in export volume particularly in 2020 – the biggest decreasing one reached 8,55 percent compared to 2019 that reached 27,63 million tons.

Though the export volume decreased, the value tended to significantly increase. Data from World Bank Commodities Price Data showed that the average price in the world increased 2017 up to US$ 751/metric ton (MT), this made export value increased 27,32 percent to 2016.

But palm oil price was in fluctuation and even got cheaper in 2018 and 2019 to be US$ 639/MT and US$ 601/MT. In 2020, it got more expensive to be US$ 752/MT; the export value increased 16,94 percent though the volume decreased 8,55 percent.

“In 2021 - 2022 looking back to the expensive palm oil, it significantly increased the export value to be US$ 29,75 billion in 2022,” the book noted. (T2)