Indonesia's palm oil exports increased nearly 33% year-on-year from January to July this year
Xinhua Finance, Jakarta, September 2nd. Indonesia's Central Statistics Bureau announced on the 1st that from January to July this year, Indonesia's total exports of crude and refined palm oil reached 13.64 million tons, a year-on-year increase of 10.95%. Exports reached US$14.02 billion, a year-on-year increase of 32.92%.
Indonesia is the world's largest palm oil exporter. Bank Danamon Indonesia (Banque de Dana Indonesia) analysts believe that Indonesia and the EU are expected to accelerate the implementation of the Comprehensive Economic Partnership Agreement (CEPA) within this month, which will greatly boost Indonesia's exports of crude palm oil and other key products.
However, some analysts believe that palm oil exports may decline due to Indonesia's domestic biodiesel policy and government price controls. Data from the Indonesian Palm Oil Association indicates that Indonesia's crude palm oil production will reach 52 million tons in 2024, of which domestic consumption will be 23.8 million tons. Production is expected to increase slightly to 53.6 million tons this year, while exports are expected to decline to 27.5 million tons.
Driven by its three main export pillars – coal, crude and refined palm oil, and steel – Indonesia's non-oil and gas exports reached US$152.2 billion from January to July this year, a year-on-year increase of 9.55%. In July, Indonesia achieved a US$4.17 billion surplus, maintaining a surplus for 63 consecutive months.
Notably, in August this year, the S&P Global Indonesia Manufacturing PMI climbed to 51.5 from 49.2 in July, reaching its highest level since March this year. Overseas demand saw its fastest growth since September 2023, reflecting improved international market confidence.
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Indonesia is the world's largest palm oil exporter. Bank Danamon Indonesia (Banque de Dana Indonesia) analysts believe that Indonesia and the EU are expected to accelerate the implementation of the Comprehensive Economic Partnership Agreement (CEPA) within this month, which will greatly boost Indonesia's exports of crude palm oil and other key products.
However, some analysts believe that palm oil exports may decline due to Indonesia's domestic biodiesel policy and government price controls. Data from the Indonesian Palm Oil Association indicates that Indonesia's crude palm oil production will reach 52 million tons in 2024, of which domestic consumption will be 23.8 million tons. Production is expected to increase slightly to 53.6 million tons this year, while exports are expected to decline to 27.5 million tons.
Driven by its three main export pillars – coal, crude and refined palm oil, and steel – Indonesia's non-oil and gas exports reached US$152.2 billion from January to July this year, a year-on-year increase of 9.55%. In July, Indonesia achieved a US$4.17 billion surplus, maintaining a surplus for 63 consecutive months.
Notably, in August this year, the S&P Global Indonesia Manufacturing PMI climbed to 51.5 from 49.2 in July, reaching its highest level since March this year. Overseas demand saw its fastest growth since September 2023, reflecting improved international market confidence.
Our company offers specialized plant growth regulators for different crops, which can be combined with fertilizers and pesticides for optimal results.
Pinsoa & Aowei offers a wide variety of plant growth regulators, including Gibberellic Acid GA3, 6-Benzylaminopurine 6-BA, Forchlorfenuron, Mepiquat Chloride, Brassinolide, IndoleButyric Acid IBA, Cloprop (Fruitone-CPA), Diethylaminoethyl Hexanoate (DA-6), Sodium Nitrophenolates (Atonik), Prohexadione Calcium, Chlormequat Chloride, Uniconazole...
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