JAKARTA :Indonesia's palm oil exports fell 8.5 per cent last year because of a volatile regulatory environment and sluggish output that is expected to continue this year, the Indonesia Palm Oil Association (GAPKI) said on Wednesday.The world's top palm oil producer exported 30.8 million tonnes of palm oil pro
JAKARTA :Indonesia's palm oil exports fell 8.5 per cent last year because of a volatile regulatory environment and sluggish output that is expected to continue this year, the Indonesia Palm Oil Association said on Wednesday.
The world's top palm oil producer exported 30.8 million tonnes of palm oil product in 2022, down from 33.7 million tonnes a year earlier. To control soaring prices of domestic cooking oil last year, the government implemented various changes in palm oil export policy, including a three-week export ban starting in late April.
A slight drop in palm oil production last year amid rising domestic consumption in the energy sector also contributed to the lower exports, GAPKI Chairman Joko Priyono told a media briefing.Indonesia uses palm oil as a feedstock for its 30 per cent mandatory blend in biodiesel. The blend will be raised to 35 per cent in February and will be known as B35.
Last year, the Southeast Asian nation produced 46.7 million tonnes of crude palm oil, down 0.4 per cent from 2021. It also produced 4.5 million tonnes of palm kernel oil."In 2023, we expect production to be stagnant again due to high fertiliser prices. Farmers have been using lower dosage, which would affect output this year."CPO + kernel oil production 51.30 51.29
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