The rising price of Indonesia palm kernel expeller in last quarter of 2020

The price of Indonesian palm kernel expeller at the wholesaler level has experienced quite a significant increase in the past two weeks. The price increased from USD 140/MT in October to USD 170/MT currently. Some sellers suggested that the significant price hike was attributed to the sudden spike in demand, which the national industry could not match in terms of production pace. Indonesian manufacturers believe that should the demand continue increasing, the price might soar even higher, to USD 180/MT in the coming week. Palm kernel expeller has been in high demand this year, as this commodity is used as an alternative for animal feed.