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Press Release<\/strong> PRESS RELEASE<\/strong><\/p>\n PRODUCTION AND EXPORTS DECLINE, STOCK INCREASE<\/strong><\/p>\n <\/p>\n Crude Palm Oil (CPO) production in November 2024 reached 4.333 thousand tons, down 2.03% compared to October’s production of 4.423 thousand tons. Similarly, Palm Kernel Oil (PKO) production declined to 412 thousand tons from 420 thousand tons in October. As of November, total production in 2024 was 3.87% lower than the same period in 2023, decreasing from 46.073 thousand tons to 44.288 thousand tons. Domestic consumption also decreased by 53 thousand tons, from 2.083 thousand tons in October to 2.030 thousand tons in November 2024 (a decline of 2.54%).<\/p>\n Biodiesel consumption fell from 1.052 thousand tons to 994 thousand tons, and oleochemical consumption decreased by 19 thousand tons from 186 thousand tons to 167 thousand tons. Meanwhile, food consumption increased by 24 thousand tons, from 845 thousand tons in October to 869 thousand tons in November. Year-on-year (YoY) up to November, domestic consumption in 2024 reached 21.672 thousand tons, 2.14% higher than in 2023, which stood at 21.218 thousand tons.<\/p>\n Food consumption reached 9.244 thousand tons, 2.76% lower than the previous year, while oleochemical consumption was 2.027 thousand tons, 2.36% lower than last year. However, biodiesel consumption increased to 10.401 thousand tons, 7.71% higher than the previous year. Total exports declined to 2.637 thousand tons in November 2024 from 2.888 thousand tons in October, a drop of 251 thousand tons (down 8.69%). The biggest decline occurred in processed palm oil products, which fell by 197 thousand tons from 2.071 thousand tons in October to 1.874 thousand tons in November, followed by CPO, which declined by 112 thousand tons to 233 thousand tons.<\/p>\n The decline in export volume resulted in a decrease in export value to US$ 2.904 million from US$ 2.943 million in October, despite the average price rising from US$ 1,203\/ton in October to US$ 1,308\/ton CIF Rotterdam in November. By destination, the largest export decline was recorded in India, dropping by 310 thousand tons to 420 thousand tons, followed by the Netherlands, which decreased by 72 thousand tons to 59 thousand tons, and Egypt, which fell by 52 thousand tons to 75 thousand tons.<\/p>\n On the other hand, export volumes increased in some countries in November compared to October, including Pakistan, which rose by 132 thousand tons to 370 thousand tons, and China, which increased by 70 thousand tons to 510 thousand tons. With production down by 2.03%, domestic consumption decreasing by 2.54%, and exports falling by 8.69%, the ending stock for November saw a slight increase to 2.583 thousand tons from 2.502 thousand tons at the end of October.<\/p>\n
\nIndonesian Palm Oil Association (IPOA)<\/strong><\/p>\n
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