In October 2023, the Indonesian Palm Oil Entrepreneurs Association (GAPKI) reported an increase in the production, consumption, and export of Crude Palm Oil (CPO), causing a decrease in CPO stock for that month. GAPKI's Executive Director, Mukti Sardjono, highlighted that CPO production in October reached 4,523 thousand tons, up by 9.2% compared to September's production of 4,143 thousand tons. Similarly, Palm Kernel Oil (PKO) production rose to 430 thousand tons from 394 thousand tons in September, marking a 9.2% increase. Domestic consumption in October totaled 2,181 thousand tons, a 10.2% surge from September's consumption of 1,979 thousand tons. The most significant increase occurred in biodiesel consumption, rising from 924 thousand tons in September to 1,160 thousand tons in October. However, food-related consumption declined by 3.5% from 865 thousand tons to 835 thousand tons, and oleochemical usage decreased by 2.1% from 190 thousand tons in September to 186 thousand tons in October.
Meanwhile, Mukti noted that total exports in October increased by 11.4% to 3,001 thousand tons from 2,693 thousand tons in September. The highest surge was observed in oleochemical exports, rising by 21.8% from 333 thousand tons in September to 406 thousand tons in October. Processed CPO exports rose by 12.4% from 1,968 thousand tons in September to 2,212 thousand tons in October, while CPO exports increased by 2.9% from 233 thousand tons in September to 264 thousand tons in October. However, both PKO and processed PKO exports experienced a combined decrease of 17.4% from 138 thousand tons in September to 114 thousand tons in October. With an initial stock of 3,103 thousand tons in October, production reaching 4,953 thousand tons, consumption at 2,181 thousand tons, and exports totaling 3,001 thousand tons, the closing stock for October decreased to 2,874 thousand tons from September's closing stock of 3,103 thousand tons, as concluded by Mukti.
