Indonesia reduced palm oil exports since the beginning of the year
According to Oil World estimates, Indonesia has shipped 7.58 mln tonnes of palm oil to foreign markets since the beginning of 2024 (January-April), which is significantly lower than 8.37 mln tonnes in the same period of the previous year.
Despite the increase in shipments to India (1.44 mln tonnes vs. 1.22 mln tonnes in January-April 2023), Pakistan (918 thsd tonnes vs. 709 thsd tonnes), and the US (659 thsd tonnes vs. 601 thsd tonnes), there was a significant decrease in supplies to China (774 thsd tonnes vs. 1.36 mln tonnes), Africa (931 thsd tonnes vs. 1.25 mln tonnes), and the EU (995 thsd tonnes vs. 1.10 mln tonnes).
Lower exports were due to a decrease in production due to a shortage of precipitation in oil palm growing regions.
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