JAKARTA: Indonesia’s 2022 palm oil exports are estimated at 34.67 million tonnes, down from last year’s 37.78 million tonnes, partly due to a temporary export stoppage in April, the chief executive of its palm oil fund (BPDPKS) said on Thursday.
Indonesia’s 2022 palm biodiesel consumption is seen at 10.6 million kilolitres, up from last year’s 9.29 million kilolitres, Eddy Abdurrachman said at a media briefing.
The gradual easing of Indonesia’s export restrictions, including the so called domestic market obligation, would see shipments return to normal at around 36 million tonnes to 38 million tonnes in 2023, he said.
The world’s top palm oil producer in late April imposed an export ban on crude palm oil and its refined products to try tame domestic cooking oil prices that were spiraling out of control, putting pressure on the government to act.
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The ban, which followed several earlier intervention moves, rattled markets at a time when concern was growing about tightening global edible oil supply and the impacts of war on sunflower oil shipments from the key exporting Black Sea region.
Indonesia removed the ban after three weeks in place of a policy where producers were given an export quota based on their domestic sales volume, to ensure local supply.
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