Palm Oil Exports Decline Sharply in February Amid Coronavirus Outbreak

"Palm oil export which has been the biggest contributor, in February 2020, the realization was only 84,000 tons. In the same period in 2019, it reached 371,000 tons," said Minister of Agriculture Syahrul in a Hearing Meeting at Commission IV of the House of Representatives (DPR) Jakarta, Monday (17/2/2020).

Palm oil export data in February 2020 was recorded only at 84,000 tons, plummeted around 77.27 percent compared to the same month in 2019 which was 371,000 tons. Compared to data from the previous month, palm oil export in February 2020 drastically decreased by 82.56 percent from the January 2020 export realization of 483,000 tons.

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However, on a year on year basis, January 2020 export increased by 3 percent from January 2019 which was recorded at 469,000 tons. Therefore, the Ministry of Agriculture strives to anticipate the decline in agricultural export to China by seeking and utilizing other markets that are also potential.

"Ministry of Agriculture strives to anticipate the decline in agricultural export to China through coordination with exporters to utilize alternative export markets such as India, Middle East, and Russia," said Syahrul.

Meanwhile, export decline to China also happened in other plantation commodities, such as coconut that dropped by 4.71 percent from 24,000 tons in January 2020 to 23,000 tons in February 2020.

Other plantation commodities fell by 46.46 percent from 42,000 tons in January 2020 to 22,000 tons in February 2020. In total, plantation commodities in February 2020 compared to January 2020 dropped by 74.17 percent, while that of February 2020 compared to February 2019 decreased by 65.26 percent.