InfoSAWIT, JAKARTA – Indonesian Palm Oil Association (IPOA) reported that the increasing palm cooking oil price still goes on. In October 2021 it was US$ 1.368/ton CIF Rotterdam or more expensive than it in September which was US$ 1.235/ton and in August, which was US$ 1.236/ton.
Palm oil product exports in October 2021 were US$3,673 billion within the export volume reaching 3.213 thousand tons or increased 230 thousand tons (+11,3%) from September. The biggest increasing products were in the derivative ones reaching 298 thousand tons or 13,5% higher than those in the previous month, while crude palm oil (CPO) product decreased about -7,0% from September to be 147 thousand tons.
The biggest increasing exports were in Egypt reaching 110,7 thousand tons (+203,3%) to be 165,1 thousand tons. The exports to China in October still increased 73,7 thousand tons (11,79%) to be 698,8 thousand tons which is year on year (YoY) reached 26,6% bigger than those in 2020.
Palm oil exports to India decreased 86,2 thousand tons (-25,97%) to be 245,6 thousand tons which is YoY reached 1.144 thousand tons smaller (-25,8%) than those in 2020. The exports to European Union (EU) 27 also increased reaching 91,6 thousand tons (+26,79%) from September but in YoY, they decreased -3,1% to 2020. By October 2021, palm oil exports reached US$ 29,528 billion which were the highest numbers for all these days.
For CPO and palm kernel oil (PKO) production in November – December could be 9.395 thousand tons while the consumption reaching 3 million tons, there will be 6.4 million tons to export. From YoY achievement, palm oil exports to China have been 26% higher, while the exports to India have been 25,8% smaller. It means, November to December exports in processed product could be reaching 2.200 thousand tons; while CPO exports could be 300 thousand tons per month, and PKO product exports could be 50 thousand tons, while oleo-chemical will be about 350 thousand tons per month.
“November-December exports could be about 6 million tons and the total exports in 2021 may be about 34,9 million tons or about 0,9 million tons higher than those in 2020 which reached 34 million tons,” Executive Director of IPOA, Mukti Sardjono said, as in the official statement to InfoSAWIT, Wednesday (15/12/2021). (T2)