Indonesia’s palm oil exports down by a third

According to Oil World (Germany), palm oil exports from Indonesia totaled 1.68 million tons in September, down from 2.4 million tons in the corresponding month of 2023, the lowest in the past few years. From the start of the season in July to September 2024, shipments were down 32% to the corresponding month of 2023, which was 5.63 million tons.

The decline in exports was due to higher domestic prices and high premiums of palm oil over other vegetable oils. The largest decrease in exports was to China at 928,000 tons against 1,621,000 tons previously and India at 870 against 1,873,000 tons.

Since the beginning of the season Indonesia supplied 573 thousand tons of palm oil to the EU against 661 thousand tons in the same period last year), to African countries – 641 thousand tons against 995 thousand tons earlier.

In September, EU countries imported 194 thousand tons of Indonesian palm oil (213 thousand tons in September 2023), African countries – 202 thousand tons (348 thousand tons earlier), China – 314 thousand tons (vs. (543 thousand tons), India – 213 thousand tons (306).

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Tags: export, Indonesia, palm oil