Indonesia’s CPO exports fell 2.56 percent in April

Trading

Indonesia’s crude palm oil (CPO) exports fell 2.56 percent by value to US$2.99 billion and 10.49 percent by volume to 1.93 million tons in April 2022 from a month earlier, according to Statistics Indonesia (BPS).

“The CPO exports fell in terms of value and volume in April. However, (regardless of) whether (the decline) is related to the export ban, to be clear, the CPO exports declined in April,” BPS Chief Margo Yuwono noted in a press conference in Jakarta on Tuesday.

If the export ban is not lifted, then CPO exports will drop in the ensuing months and will eventually have an impact on Indonesia’s exports, he cautioned.

“Surely, if it is not lifted, it will affect our exports, though for knowing what is its impact on our balance of trade, let us look at it in the ensuing months,” he remarked.

The government decided on April 28, 2022, to ban the export of CPO, refined, bleached, and deodorized palm oil (RBD palm oil), refined, bleached and deodorized palm olein (RBD palm olein), and used cooking oil (UCO) until the domestic price of bulk cooking oil is stable at around Rp14 thousand per liter.

The export ban was laid down in Trade Minister’s Regulation No. 22 of 2022 concerning a temporary ban on the export of CPO, RBD palm oil, RBD palm olein, and UCO.

Source: Antara News