Indonesia’s palm oil exports in January and February fell below the monthly average recorded over the past year, according to data presented by the Trade Ministry. The world’s largest producer and exporter of palm oil shipped 1.89 million metric tons in January and 1.01 million tons in February, reflecting a decrease in export volumes. The decline in palm oil exports was attributed to reduced demand, influenced by pricing competitiveness relative to alternative vegetable oils such as soy and canola oils. Trade Ministry official Bambang Wisnubroto highlighted the impact of pricing dynamics on Indonesia’s palm oil market share, noting that importing countries may opt for other edible oils amid the prevailing conditions. The data, shared during a government meeting on inflation, underscores the challenges faced by Indonesia’s palm oil industry in maintaining export levels amid shifting market preferences and pricing considerations.
Indonesia’s Palm Oil Exports Decline in January and February Below Average Levels