MARKET DEVELOPMENT
Palm Oil Dominates Indonesia`s Commodity Exports
Palm Oil Dominates Indonesia`s Commodity Exports
10/11/2016 (Tempo.co) - Indonesian Palm Oil Association (Gapki) chariman Joko Supriyono said that CPO makes of the most of Indonesian’s commodity exports, putting it in a strategic position.
“Considering CPO’s significant contribution to the country’s foreign exchange reserve, we have to maintain sustainable palm oil practices and make palm oil as a mainstay export commodity,” he said Wednesday, Nov. 9. 2016, during Gapki’s meeting in Pontianak, West Kalimantan, as quoted by Bisnis Indonesia.
Joko explained that despite high export volume, Indonesia’s palm oil production has dropped by 15 percent to climatic conditions related to El Niño.
“Declining productivity has also resulted in the slump of companies' performance. State revenue has also dropped. It’s the challenge we have to face,” he said.
Joko said that the West Kalimantan exports CPO to over 50 countries. India is the largest destination, followed by China, Bangladesh and European countries.
“Considering CPO’s significant contribution to the country’s foreign exchange reserve, we have to maintain sustainable palm oil practices and make palm oil as a mainstay export commodity,” he said Wednesday, Nov. 9. 2016, during Gapki’s meeting in Pontianak, West Kalimantan, as quoted by Bisnis Indonesia.
Joko explained that despite high export volume, Indonesia’s palm oil production has dropped by 15 percent to climatic conditions related to El Niño.
“Declining productivity has also resulted in the slump of companies' performance. State revenue has also dropped. It’s the challenge we have to face,” he said.
Joko said that the West Kalimantan exports CPO to over 50 countries. India is the largest destination, followed by China, Bangladesh and European countries.