This Year's Palm Oil Exports Minimum US$ 34 Billion

The value of national palm oil exports this year is estimated to reach at least US$ 34 billion. Indonesia's palm export volume is projected to be 34.44 million tons in 2022,

while the price of crude palm oil (CPO) is in the range of US$ 1,000-1,250 per tonne (Free On Board/FOB Indonesia) until the end of semester I-2022. Meanwhile, the realization of the value of Indonesian palm oil exports during January-October 2021 has reached US$ 29.53 billion. The Indonesian Palm Oil Association (Gapki) projects that Indonesia's palm oil production in 2022 will reach 52.56 million tons. Meanwhile, domestic consumption reached 20.1 million tons or grew 7.13% from the 2021 projection of 18.76 million tons, driven by a surge in palm oil consumption by the biodiesel industry which increased 13.96% to 8.34 million tons in 2022. The surge in local consumption It is suspected that Indonesia's palm oil exports in 2022 only rose 3.18% to 34.44 million tons from the 2021 projection of 33.38 million tons. Secretary General of Gapki Eddy Martono stated that the growth of CPO production in 2022 is projected not to be as fast as 2021. One of the reasons is that planters tend to have difficulty in accessing fertilizer materials so that it has an impact on oil palm production. Complaints from planters are that the price of fertilizer has increased so that they save more on use. Irregular fertilization factors can have an impact on palm production so that at the beginning of this year the growth of palm oil production will slow down a bit.

|•SOURCE•| Articles :INVESTOR | Image :WWF |

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