Indonesia reduced palm oil exports in 2023

Indonesia reduced by 2.7% last year the volume of palm oil sales to foreign markets – from 33.1 million tons in 2022 to 32.2 million tons. The national association GAPKI announced such data on Tuesday.

“Palm oil export revenue also declined in 2023 as the export volume itself declined and the average price was lower than in 2022,” GAPKI Chairman Eddie Martono said at an industry event.

He also noted that palm oil consumption in the biofuel sector was higher than the food segment in 2023.

According to Indonesia’s Energy Ministry, biodiesel consumption during the review period was 12.2 million kiloliters and is expected to rise to 12.5-13 million kiloliters this year.

Tags: palm oil, Indonesia