Indonesian palm oil exports to reach 34.67 million tons in 2022

According to the Indonesian Palm Oil Fund (BPDPKS), this year the country will supply 34.67 million tons of this product to international markets. This is 2 million tons less than in 2021. The decline was caused by a temporary suspension of deliveries in April, the correspondent of KazakhZerno.kz reports. Indonesia, the world's largest producer of palm oil, imposed a ban on the export of crude palm oil and its derivatives at the end of April to stabilize domestic prices. The embargo led to the formation of significant stocks of palm oil, due to which processors began to purchase less raw materials for its production, and the sale of palm fruits from farmers dropped sharply. As a result of overstocking, the authorities eventually canceled ...