Indonesian Palm Oil Association reported crude palm oil (CPO) price dropped from the average US$722 a metric ton (MT) of CPO in February to $636 per MT in March. In the same month, the national production in March was slightly lower 0.9% than February.
Domestic consumption also dropped by 3.2% while exports increased by 3.3 percent. Export value in March slightly increased by 0.6% to $1.82 billion compared to previous month.
According to association, palm oil production during January – March 2020 was lower than production during the same period in 2019. Domestic consumption was higher by 7.2%, export volume dropped by 16.5%, but export value rose by 9.45% to $5.32 billion.