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).
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Write to us
Our manager will contact you soon