Lang
Indonesia, the world's top palm oil producer, reported on Monday a sharp double-digit rise in exports of the key agricultural commodity during February.
Official data showed that Indonesia's exports of crude palm oil and its derivatives reached 2.27 billion US dollars in February, marking a month-on-month increase of 58.35% compared with 1.44 billion US dollars the previous month. Exports also jumped 89.54% year-on-year, up from 1.2 billion US dollars worth of palm oil products exported in February 2024, according to data from the Central Statistics Agency (BPS).
Amalia Adininggar Widyasanti, head of the Central Statistics Agency (BPS), said at a press conference:
"Our exports of crude palm oil and its derivatives reached 2.27 billion dollars in February. This is the highest level of palm oil exports recorded by Indonesia since August 2023, when exports stood at around 2.4 billion dollars."
In volume terms, palm oil exports rose from 1.27 million tonnes in January 2025 to 2.06 million tonnes in February. In February 2024, Indonesia sold 1.42 million tonnes of crude palm oil and its derivatives to its overseas trading partners. The average price per tonne stood at around 1,101.3 US dollars last month, compared with 1,134.08 US dollars in January 2025 and 847.58 US dollars in February 2024.
These latest figures point to a recovery in Indonesian palm oil exports, after a notable decline at the start of the year, when exports fell 24.1% from 1.89 billion US dollars in December 2024 to 1.44 billion US dollars in January. Exports had also dropped 16.68% year-on-year in January.
According to Amalia, the strong rise in palm oil exports in February helped Indonesia post a trade surplus for the 58th consecutive month since May 2020. India was the second-largest contributor to that surplus last month, accounting for around 1.3 billion US dollars, behind the United States, which contributed 1.57 billion US dollars. Palm oil trade made up a substantial share of the trade surplus with New Delhi.
Indonesia and Malaysia together account for more than 80% of global palm oil supply.