VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

CPO exports fetch US$3.74 billion in March - 

Indonesia’s crude palm oil (CPO) exports in March this year reached US$3.74 billion, an increase of 80 percent from US$2.08 billion recorded in the previous month.

The foreign exchange earnings were obtained from the export of 3,244 tons of CPO, an increase of 62.7 percent from 1,994 tons in February, 2021, chief of the Indonesian Palm Oil Producers Association (Gapki), Joko Supriyono, disclosed in Jakarta on Friday.

“An increase in price and volume is believed to have led to palm oil exports soaring to around US$3.74 billion," he said.

According to Supriyono, national palm oil production in March this year rose by more than 20 percent to 3,712 thousand tons from 3,079 thousand tons the previous month. Compared to January, 2021, production was 10 percent lower in March.

“But, yoy (year-on-year), CPO production in the year ending March, 2021 was 1.6 percent higher,” he informed.

He said domestic palm oil consumption stood at 1,599 thousand tons in March, or lower than 1,604 thousand tons recorded in February, 2021.

Meanwhile, palm oil consumption for biodiesel production fell 0.5 percent to 625 thousand tons from 635 thousand tons in February.

However, domestic consumption in the first three months of 2021 was 3.8 percent higher than in the same period last year, Supriyono said//ANT