JAKARTA (Yosefardi) – Joko Supriyono, secretary general of the Indonesian Palm Oil Association (Gapki), said crude palm oil (CPO) prices declined 18% to US$841.67 per metric ton in 2013, compared to US$1,028.40 per metric ton in 2012.
He said global economic crisis was the factor of price drop in CPO during last year. India, the main buyer of CPO from Indonesia, was facing a slowdown on economic growth. China also experienced a slowdown of economy.
Indonesia’s palm oil products (including CPO) export totaled 21.2 million tons in 2013, grew by 12% from 19 million tons in 2012.
However, national’s export value reached US$19.1 billion, declined from US$21.2 billion in 2012.
While national’s CPO production is expected to reach 26 million tons last year, lower than 26.5 million tons in previous year.