January 2023 palm oil industry performance in Indonesia

Published 2023년 3월 27일

Tridge summary

The Indonesian Palm Oil Association (GAPKI) reported a stagnant production and decreasing stocks in the palm oil industry in January 2023, with CPO production being around 9.5% lower than December 2022 due to seasonal factors. Despite a decrease in domestic consumption and biodiesel consumption, exports saw an increase, with recovery in exports to Egypt, Italy, and Singapore, but decreases in exports to Bangladesh, Pakistan, Vietnam, and Russia. The average CPO price in January 2023 was US$ 1,024/ton CIF Rotterdam, and the local price was US$ 754/ton FOB Dumai KPBN, but the export value in January 2023 was lower than December 2022. CPO+PKO stocks at the end of January 2023 were around 3.1 million tons, lower than the previous month and less than domestic consumption and exports for one month.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

PRESS CONFERENCE Indonesian Palm Oil Association (GAPKI) January 2023 Palm Oil Industry Performance: Stagnant Production, Decreasing Stocks 2023 begins with CPO production in January of 3,892 thousand tons and PKO of 370 thousand tons, which is relatively the same as January 2022 CPO production of 3,863 thousand tons and PKO of 365 thousand tons. Compared to December 2022 CPO production of 4300 thousand tons, January 2023 production was around 9.5% lower due to seasonal factors. CPO + PKO consumption, domestic consumption in January 2023 was 1,786 thousand tons, higher than January 2022 consumption of 1,497 thousand tons but lower than December 2022 consumption of 1,936 thousand tons. Consumption for the food industry in January 2023 was only 793 thousand tonnes compared to 901 thousand tonnes in December 2022. Consumption for biodiesel also fell to 810 thousand tons from 850 thousand tons in December, while consumption for the oleochemical industry in January 2023 was 183 ...

Source: Gapki