Throughout July 2017, Indonesia's Palm Oil Production Rises 13 Percent

INDUSTRY.co.id - Jakarta - Throughout July 2017 Indonesia's palm oil production reached 3.75 million tons, up 13% compared to the previous which only reached 3.33 million tons. Production increases as the El Nino effect of 2016 is over.

"With good production and exports that are not too high, it has an effect on increasing domestic palm oil stocks which reached 2.72 million tons, up 17 percent compared to last June," said Executive Director of Indonesian Palm Oil Business Association (GAPKI) Fadhil Hasan.

In terms of prices, during August global CPO daily prices showed an upward trend compared to July, the price moved in the range of US $ 652.50 - US $ 695 per metric ton with an average price of 676 dollars per metric ton.

Meanwhile, Fadhil said, the price of CPO in July only moved in the range of US $ 650-US $ 672.50 per metric ton. With this low price, the export volume of palm oil in Indonesia reached 2.4 million tons.

"This figure shows an increase of 13 percent compared to last June which only reached 2.13 million tons," said Fadhil.