Indonesia’s Palm Oil Export Rose in August, The highest in 2018
Palm oil export from Indonesia on August 2018 climbed to the highest ever this year to record 3.3 million tons from 3.22 million tons in Juli 2018. The Indonesian Palm Oil Association (Gapki) released the data, Monday, (1/10/2018).
Palm oil export from Indonesia on August 2018 climbed to the highest ever this year to record 3.3 million tons from 3.22 million tons in Juli 2018. The Indonesian Palm Oil Association (Gapki) released the data, Monday, (1/10/2018). Gapki’s Executive Mukti Sardjono said that demands during August was strong as the price was so low that importers were compelled to buy in bulk. “Strong demand from global market has yet to raise the price,” Mukti said in written statement. However, export of palm oil and its derivatives yearly of January-August 2018 declined 2% from earlier year. On August 2018, the shipment reached 19.96 million tons, declined from 20.43 million tons in January-August 2017. In August 2018, Indonesia’s palm oil export to India, the country’s top palm oil buyer, rose 26%, the highest record in palm oil trade monthly history with India. The shipment to China also rose 26%, to US 64%, to Africa 19% and to Pakistan rose slightly 7%. On the other hand, export to European Union dropped 10% as well as to Bangladesh 62% as stocks of rapeseed and sunflower oil was still high. ***
