Indonesia’s palm oil exports have been declining since the beginning of the year
Indonesia sold abroad 2.9 million tons of palm oil in the first 2 months of 2024, the country’s Ministry of Trade reported. Thus, in January, 1.89 million tons of these products were exported, in February – 1.01 million tons.
At the same time, according to the department, both indicators are inferior to the average monthly values for last year.
“Demand for palm oil has declined due to less competitive prices compared to competing oils,” said ministry spokesman Bambang Vishnubroto.
He added that key importing countries have opted to purchase more affordable types of oils, particularly soybean and rapeseed.
Read also
Brazil increased soybean exports to China by 72% since the beginning of the year
Canada’s grain exports down 10%
Exports of soybean meal from the US in 2024/25 MY will reach a record level
Palm oil prices remain low due to reduced exports, which limits the growth of pric...
Oilseed processing in the EU fell in April
Write to us
Our manager will contact you soon