Decreasing price of palm kernel expeller(PKE) in Indonesia as the demand slows down

Entering the midpoint of the final week of January 2021, palm kernel expeller (PKE) price is down slightly to USD 167/MT, from its highest average price in the past two weeks at USD 180/MT. Based on the insight provided by some exporters, the price was down because the supply of PKE has gone up in the second half of January 2021, and the demand for this commodity has been slower in the closing weeks of this month. It is expected that the price can bounce back in the coming weeks as the demand from the livestock industry is projected to bounce back up in February 2021.