JAKARTA (rambuenergy.com) – Indonesia’s crude palm oil (CPO) exports in January dropped 8 percent to 1.97 million tons from 1.8 million tons in December 2014. On year-on-year basis, the CPO exports in January 2015 was 15 percent higher compared to 1.57 million tons in the same month last year.
The Indonesia Palm Oil Association (GAPKI) said in a statement that the exports slow-down was due falling demand from Indonesia’s main exports destinations in particular China and India.
GAPKI said CPO exports to India and China, two largest exports destinations of Indonesia’s CPO recorded a significant decline. The CPO exports to China plunged by 40 percent to 196,840 tons in January compared to 328,450 tons in December last year.
The CPO exports to India also dropped by 39.7 percent to 298,270 tons from 494,720 tons in previous month.
The falling exports to China and India was, however, offset by an increase in exports to Pakistan and Middle East countries. The exports of Indonesian CPO to Pakistan surged 59 percent to 125,610 tons in January 2015 from 78,800 tons in previous month.
Exports to other Middle East countries also increased by 9 percent to 190,200 tons in January 2015 from 174,360 tons in previous month. (*)