Press Release
Indonesian Palm Oil Association (IPOA)

PALM OIL PERFORMANCE IN AUGUST 2023

Production Drops, Local Consumption Keeps Rising

CPO production in August 2023 reached 3,855 thousand tons, while PKO production reached 366 thousand tons, making the total production at 4,221 thousand tons. The total production was lower by 11.5% if compared to the production in July 2023 at 4,771 thousand tons which was a reflection of seasonal production trend.

Despite the fact, Year on Year (YoY) until August, there had been an increase of production at 14.8% or 4,678 thousand tons, higher than the production in 2022 at 31,609 thousand tons, to 36,287 thousand tons in 2023.

Total domestic consumption in August 2023 reached 2,037 thousand tons or higher by 14.8% than the consumption in July at 1,757 thousand tons. The increase was resulted from the increase of biodiesel use at 237 thousand tons (+33%), from 719 thousand tons in July 2023 to 956 thousand in August.

The increase of consumption was also seen for foods from 853 thousand tons in July 2023 to 898 thousand tons in August 2023, while for oleochemical dropped by 2.0 thousand tons.

Total exports in August 2023 reached 2,073 thousand tons or a decrease of 41% if compared to the exports in July 2023 at 3,519 thousand tons. The export decrease was caused more by the low production and the consistent rise of domestic absorption. With the total exports, the value of exports in August 2023 was estimated to reach $1,683 million, which was far lower than the export value in July 2023 at $2,918 million.

With an estimated initial stock in August 2023 at 3,128 thousand tons, production drop of 11.5%, consumption increase of 15.9%, then the stock by the end of August 2023 was estimated at around 3,244 thousand tons.

Jakarta, 27 October 2023
The Indonesian Palm Oil Association (GAPKI)

For further information, please contact:

Mukti Sardjono
Executive Director

GAPKI
Ph. 021-57943871
Fax. 021-57943872