Decreasing export volume of Indonesian CPO to India due to downward slope on demand

The most recent data released by the Indonesian Palm Oil Board has shown that the export volume of Indonesian crude palm oil (CPO) to India has been experiencing a setback between September and November. In September and October 2020, the export volume was recorded at 225 MT and 107 MT. So far in November, the volume has reached a mere 104 MT, a considerable decrease from the recorded volume this time last year where the amount was around 50% higher. The main driver for this cut was the slowdown of demand, due to the high price of CPO in the last 3 months, which has prevented the buyers from sourcing at their usual capacity. India has long been a major export market for Indonesian CPO and its derivatives and it now accounts for 30% of the total market share of Indonesian palm oil