Indonesia: Palm oil stocks in April 2022 rise amid shrinking exports

Published 2022년 6월 24일

Tridge summary

The Indonesian Palm Oil Association (GAPKI) has reported a decrease in palm oil exports in April 2022, from 2.63 million tons in April 2021 to 2.08 million tons, due to the government's efforts to increase the supply of cooking oil and reduce prices. The Cif Rotterdam's Crude Palm Oil (CPO) price also fell from US$ 1,813 per ton in March to US$ 1,719 per ton in April, leading to a decrease in CPO export value from US$ 3.51 billion in March to US$ 3.43 billion in April. Despite the decrease in exports, domestic consumption and production of CPO increased in April, reaching 1.75 million tons and 3.88 million tons, respectively. Palm oil stocks are estimated to have increased to 6.10 million tons in April 2022. GAPKI has urged producers to maintain production to achieve optimal revenue and prevent the buildup of stocks, which could lead to an export ban and the cessation of operations for palm oil mills.

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Original content

Reporter: Dimas Andi | Editor: Anna Suci Perwitasari KONTAN.CO.ID - JAKARTA. The Indonesian Palm Oil Association (GAPKI) announced the realization of the performance of the palm oil industry throughout April 2022. It was recorded that exports of Indonesian palm oil products in April 2022 amounted to 2.08 million tons or lower than exports in April 2021 of 2.63 million tons. "The low export is due to the government's efforts to increase the supply of cooking oil, because until April the price of cooking oil is still not as expected," said Mukti Sardjono, Executive Director of GAPKI in a press release received by Kontan.co.id, Friday (24/6). Cif Rotterdam's Crude Palm Oil (CPO) price in April 2022 was recorded at US$ 1,719 per tonne, down from last March's price of US$ 1,813 per ton. Correspondingly, the value of CPO exports fell from US$ 3.51 billion in March to US$ 3.43 billion in April. Based on destination countries, exports decreased to Pakistan, the United States, China, and ...

Source: Kontan