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Jakarta Post

Palm oil output to rise 4.5 percent this year as demand recovers: Association

  • Norman Harsono

    The Jakarta Post

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Jakarta   /   Wed, February 10, 2021   /  06:45 pm
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Palm oil companies in Indonesia, the world’s top producer of the commodity, expect output to rise 4.5 percent year-on-year (yoy) to 53.9 million tons in 2021, a reversal of last year’s contraction driven by recovering global demand.(Shutterstock/mrfiza)

Palm oil companies in Indonesia, the world’s top producer of the commodity, expect output to rise 4.5 percent year-on-year (yoy) to 53.9 million tons in 2021, a reversal of last year’s contraction driven by recovering global demand. Indonesian Palm Oil Producers Association (GAPKI) chairman Joko Supriyono said on Feb. 4 that this year’s demand would be driven by both domestic and foreign markets, supported by Indonesia’s 30 percent palm oil-mixed biodiesel (B30) program and by economies recovering from the COVID-19 outbreak. In 2020, palm oil production fell by 1.05 percent yoy to 51.63 million tons. “Production in 2021 will rise but not by much. Export volumes will depend on whether the COVID-19 vaccine can cover most of the world,” said Joko during a virtual media briefing. GAPKI data shows that export volumes are expected to rise 10.3 perce...