The Association of Indonesian Palm Oil Producers (GAPKI) reported that the value of crude palm oil (CPO) exports in the first half (H1) of 2020 fell to US$10.06 billion from the same period last year of $20.22 billion. The export values has continued to decline since 2017 to $24.94 billion and in 2018 worth of $23.33 billion.
“In terms of (trade) balance, Indonesia’ non-oil and gas exports are still a surplus of $9 billion, partly contributed by palm oil exports,” said GAPKI Chairman, Joko Supriyono, at a press conference on Wednesday (12/8).
As for the production side, during January to June was still contracted compared to H1 of 2019 by 9% and the combined other palm oil products was minus 10%. Based of GAPKI data, Indonesia’ palm oil production reached 23.5 million tons (MT) of CPO until June 2020 from June of last year of 25.8 MT of CPO.
