Indonesian Palm Oil Goods Exports Up 13.6% to US$22.97bn in 2020

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Laila Afifa

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  • Workers unload oil palm fruits in a state-owned crude palm oil processing unit in North Sumatra May 29, 2012.  REUTERS/Tarmizy Harva/File Photo

    Workers unload oil palm fruits in a state-owned crude palm oil processing unit in North Sumatra May 29, 2012. REUTERS/Tarmizy Harva/File Photo

    TEMPO.CO, JakartaIndonesia's exports of palm products managed to increase amid the pandemic Covid-19. Last year, the export value reached US$22.97 billion or around Rp321.5 trillion.

    "Exports grew 13.6 percent from 2019," Eddy Abdurrachman, head of the Oil Palm Plantation Fund Management Agency (BPDKS), said in a national seminar on strengthening palm oil management policies, Wednesday, February 10.

    The figure is higher than the annual average of US $ 21.4 billion. Crude Palm Oil (CPO), which rose 6.62 percent monthly and 28.13 percent annually.

    According to Edy, the growth was supported by the increasing prices of palm oil products in international markets.

    Despite increasing in value, the export volume of Indonesia palm oil products declined. Throughout 2020, palm oil products' export volume was 34 million tons, lower than 2019's 37.39 million tons.

    Read: Palm Oil Production Surges Despite Pandemic

    FAJAR PEBRIANTO