World production of vegetable oils will reach a record by the end of the current crop year

According to the Indonesian Palm Oil Association (Gapki), exports of this commodity in April 2023 decreased by 19.2% over the previous month, from 2.6 million tons to 2.1 million tons, in which is mainly crude palm oil (CPO) accounting for 1.6 million tons. In a press release, Gapki said the export volume in April 2023 reached the lowest level since February 2022, excluding May 2022 when Indonesia imposed a ban on palm oil exports. Thus, in the first 4 months of 2023, Indonesia exported a total of 8.9 million tons of palm oil, down from 10.6 million tons in the same period last year. The whole year 2022 palm oil exports of this Southeast Asian country has reached 33.9 million tons. Gapki's April report also showed that palm oil exports to China fell sharply by 48.7%, while exports to African countries except Egypt also decreased by 47.3%. The declines for two other key markets, India and the US, were 36.5% and 29.7%, respectively. Indonesia's palm oil export revenue also fell ...