Prices soared, Indonesian CPO production still sluggish until February 2022

Published 2022년 4월 21일

Tridge summary

The Indonesian Palm Oil Entrepreneurs Association (Gapki) reported a significant increase in the average price of CIF Rotterdam Crude Palm Oil (CPO) in February 2022, reaching US$ 1,522 per tonne, due to lower than expected vegetable oil production, particularly soybeans in South America. Despite this, domestic consumption and total palm oil exports in February 2022 were lower than January 2022, with the value of exports slightly decreasing. The geopolitical situation and normal weather predictions from BMKG contribute to uncertainties in the industry, with a need for increased efficiency and productivity.

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

Original content

Reporter: Dimas Andi | Editor: Anna Suci Perwitasari KONTAN.CO.ID - JAKARTA. The Association of Indonesian Palm Oil Entrepreneurs (Gapki) explained the condition of the national palm oil industry in the first two months of 2022. It is noted that the average price of CIF Rotterdam Crude Palm Oil (CPO) in February 2022 reached US$ 1,522 per tonne, or US$ 164 higher than the January price of US$ 1,053 per tonne, and US$ 469 higher than the price in January. in February 2021 amounting to US$ 1,053 per ton. The FOB KPBN price for February was recorded at Rp. 15,532 per kilogram (kg) compared to Rp. 14,811 per kg in January. "This high price is caused by the world's vegetable oil production which is not as expected, especially for soybeans in South America," said Executive Director of Gapki Mukti Sardjono in a press release on the Gapki website, Wednesday (20/4). Indonesia's CPO production in February 2022 is estimated at 3.50 million tons and Palm Kernel Oil (PKO) at 302,000 tons. This ...

Source: Kontan