Hike in CPO Price Halts Export Drops in November

Hike in CPO Price Halts Export Drops in November

JAKARTA—Statistics Indonesia (BPS) released its statement on export-import performance in November 2019, Monday (17/12/2019).

BPS recorded that in November 2019, increase of CPO price in the international market became one of the factors that successfully withheld the rate of decline in Indonesia's export value.

Palm kernel Oil prices increased 27.27% from US $594/MT (Metric Ton) to US $756/MT; Palm oil prices rose 15.57% from US $591/MT to US $683/MT; Rubber Price (RSS/ribbed smoked sheet) rose 7.69% from US $1.43/kg to US $1.54/kg; Cocoa rose 3.28% from US $2.24/kg to US $2.52/kg; And aluminum rose 2.84% from US $1.726/MT to US $1.775/MT.

Overall, the BPS data revealed that Indonesia's exports in November 2019 were recorded at US $14,01 billion or decreased by 6.17 percent over the previous month. This number also dropped 5.67 percent compared to the same month last year.

In contrast, the value of palm oil exports grew from US $1.33 billion in October to US $1.45 billion in November. The export volume rose from 2.53 million tonnes in October to 2.66 million tonnes in November.

"Rising prices or prices falling on some commodities will certainly affect the durability of our exports and imports," Head of BPS, Suharyanto said. (Source: Gatra.Com)