GAPKI: The export value of Indonesian palm oil 2017, the highest in history!

GAPKI: The export value of Indonesian palm oil 2017, the highest in history!

MK Binyo
Translated by : adhe

Beritahati.com, Jakarta - Indonesian Palm Oil Entrepreneurs Association (GAPKI) reported that the performance of the national oil industry is very good throughout 2017. Proven by the number of production increased significantly.

This was revealed by Secretary General of GAPKI Togar Sitanggang in a press conference at GAPKI Head Office.

Indonesia's crude palm oil (CPO) crude palm oil (CPO) production reaches 38.17 million tons, while palm kernel oil (PKO) or palm kernel oil production reaches 3.05 million tons.

Thus, the total production of palm oil Indonesia throughout 2017 reached 41.98 million tons.

This figure has increased by 18 percent compared to the same period the previous year, where in 2016, Indonesia's palm oil production is at 35.57 million tons.

"Indonesia's palm oil stock by the end of 2017 amounted to 4.02 million tons," said Togar.

One of the factors contributing to the increasing production of Indonesian palm oil is the decline of land fires. GAPKI assess, the government can overcome the concerns of businessmen about land fires.

"Almost no cases of fire in oil palm plantations," he said.

The average price of CPO in 2017 was 714.3 US dollars per metric ton. That number rose 2 percent compared to the average price in 2016 of 700.4 US dollars per metric ton.

For 2018, GAPKI is optimistic that the performance of the national palm oil industry remains good. This is because Indonesia is experiencing a pretty good economic growth.

CPO production is also expected to grow by 10 percent. Exports are also expected to experience similar growth rates with production.

National Palm Oil Exports

Meanwhile, Indonesia's palm oil exports throughout 2017 reached 31.05 million tons, up 23 percent compared to 2016 at 25.11 million tons.

The export increase figures include CPO and its derivatives, but excludes biodiesel and oleochemicals.

With this significant increase in Indonesia's palm oil exports, successfully contributed foreign exchange. The increase in export volume supported by good price becomes one of the decisive factors.

For the export value of Indonesian palm oil, GAPKI provides data, in 2017, the export value of Indonesian palm oil reached 22.97 billion US dollars. This figure rose 26 percent compared to 2016 which was in the amount of 18.22 billion US dollars.

"This export value is the highest value in the history of palm oil exports in Indonesia," said Togar.

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