Press Release
Indonesian Palm Oil Association (IPOA)

PRICE STAYS HIGH, PRODUCTION LAGS

The exports of palm oil (CPO+PKO) in April 2021 reached 2.636 million tons, or a decrease of around 595 thousand tons (-18%) from the exports in March at 3.232 million tons. The export dropped because Indonesia’s palm oil production (CPO+PKO) in April was only 4,097 thousand tons, which was only a slight increase from that in March at 4,020 thousand tons.

The average price of palm oil in April 2021 was US$ 1,157 cif Roterdam, which was higher than that in March 2021. The high price was boosted by the very high prices of vegetable oils in India, which saw prices up to US$ 1.230-1.240/ton in its seaports for May 2021 delivery and palm oil production of Malaysia was still hampered by the shortage of workers. But, due to the significant drop of export volume, Indonesia’s palm oil export value in April 2021 only amounted to US$ 2.664 billion our around US$ 480 million lower than that of March.

Total domestic consumption in April 2021 reached 1,590 thousand tons, which was more or less the same with that of March (1,589 thousand tons). Biodiesel saw a decrease from 615 thousand tons to 609 thousand tons and oleochemical from 168 thousand tons to 162 thousand tons.

Based on above data, Indonesia’s final stock of palm oil in April dropped by 123 thousand tons from 3,267 thousand tons to 3,144 thousand tons.

In line with the plant cycle, usually the period of May to November will see an increase of production. Therefore, productivity should be maintained to benefit from the momentum of production and price that are predicted to stay high.

Jakarta, 14 June 2021
Indonesian Palm Oil Association (IPOA)

For further information, please contact:

Mukti Sardjono
Executive Director GAPKI
Phone/Fax:
021-57943871
Fax. 021-57943872

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