Palm Oil Stocks in Indonesia Rise by 14% Due to Export Decline

According to the Indonesian Palm Oil Producers Association (GAPKI), published on Thursday, palm oil stocks in Indonesia increased by 13.98% at the end of January compared to the previous month. This occurred despite a decrease in production and exports falling to a four-month low.

This is reported by AgroReview

Indonesia, the world’s largest producer of palm oil, exported 1.96 million metric tons of oil products in January, including refined palm oil and oleochemical products. This figure is lower than the 2.06 million tons shipped in December. It is noted that exports decreased by 30% compared to the same period last year.

The decline in exports, according to GAPKI, is linked to reduced demand from key buyers such as India, China, and Pakistan.

Production of crude palm oil in Indonesia in January was 3.83 million tons, slightly below the 3.88 million tons produced in December.

Discussion on Market Development

The further development of the grain and oil market in Ukraine and the Black Sea region will be the topic of discussion at the 23rd International Conference BLACK SEA GRAIN.KYIV, which will take place on April 24 in Kyiv. Participants will be able to engage in strategic discussions and networking with leading industry experts!