National Palm Oil Exports Rise 27.82 Percent This Year

INDUSTRY.co.id - Jakarta - During the year, national palm oil exports reached US $ 21.50 billion, up 27.82 percent from last year's US $ 16.82 billion.

"The increase in prices in the second semester of this year is a driving force in the performance of palm oil exports this year," said Executive Director of Palm Oil Agribusiness Strategic Policy Institute (Paspi), Tungkot Sipayung in Jakarta, Friday (29/09/2017).

In the first semester of this year, the average price of crude palm oil (CPO) was only US $ 667 per ton. However, in the second half of this year, the price could potentially rise above US $ 700 per ton.

"National palm oil exports in both volume and value will strengthen in the second half of this year compared to the same period last year," said Tungkot.

He added that in the second half of this year, it will grow to 15 million tons, bringing total exports this year to 31.50 million tons and export value so far this year could reach US $ 21.50 billion.

Based on data from the Center for Data and Information Systems of Agriculture and Central Bureau of Statistics (BPS), the export of palm oil is in the first half of this year reached 16.15 million tons and worth US $ 10.63 billion.

The figure grew by 23.34% and 47.31% from 13.09 million tons in the same period last year and US $ 7.22 billion. Meanwhile, total exports of palm oil exports from January to December 2016 reached 28.49 million tons, valued at US $ 16.82 billion.