Indonesia's 2022 palm oil exports fell 8.5%, with output sluggish

Published 2023년 1월 25일

Tridge summary

Indonesia's palm oil exports saw an 8.5% decrease in 2022, totaling 30.8 million tonnes, due to a fluctuating regulatory environment and stagnant output, which is expected to persist in 2023. The decline was attributed to government policies aimed at controlling domestic cooking oil prices and a slight decrease in production, despite rising domestic consumption in the energy sector. High fertilizer prices are expected to further impact production in 2023.

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Original content

JAKARTA (Jan 25): Indonesia's palm oil exports fell 8.5% last year because of a volatile regulatory environment and sluggish output that is expected to continue this year, the Indonesia Palm Oil Association (Gapki) said on Wednesday. The world's top palm oil producer exported 30.8 million tonnes of palm oil product in 2022, down from 33.7 million tonnes a year earlier. To control soaring prices of domestic cooking oil last year, the government implemented various changes in palm oil export policy, including a three-week export ban starting in late April. A slight drop in palm oil production last year amid rising domestic consumption in the energy sector also contributed to the lower exports, GAPKI Chairman Joko Priyono told a media briefing. "Biodiesel consumption (last year) jumped because consumption of fuel rose after the pandemic," he said. Indonesia uses palm oil as a feedstock for its 30% mandatory blend in biodiesel. The blend will be raised to 35% in February and will be ...

Source: Theedgemarkets