Indonesia's 2023 palm oil, palm kernel oil exports at 32.2 mln metric tons

Credit: REUTERS/ANTARA FOTO

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JAKARTA, Feb 27 (Reuters) - Indonesia's palm oil exports in 2023 dropped by 2.7% on a yearly basis to 32.2 million metric tons from 33.1 million tons shipped in 2022, the Indonesia Palm Oil Association (GAPKI) said on Tuesday.

"Palm oil export revenue declined in 2023 because exports volume dropped and average commodity price was lower than 2022," GAPKI chairman Eddy Martono told an industry event.

Eddy said in 2023, palm oil use for biodiesel feedstock surpassed food consumption.

Data from Indonesia's energy ministry showed biodiesel consumption in 2023 stood at 12.2 million kiloliters, and this year is expected to rise to 12.5-13 million kilolitres.

(Reporting by Bernadette Christina, Dewi Kurniawati Writing by Fransiska Nangoy Editing by Kanupriya Kapoor)

((fransiska.nangoy@tr.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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