MARKET DEVELOPMENT
Indonesia Set to Increase CPO Export to China
Indonesia Set to Increase CPO Export to China
16/05/2017 (Netralnews) – The government of Indonesia is ready to increase the export of crude palm oill (CPO) to China.
"We are also discussing cooperation in the context of palm oil exports. China has developed class-5 biodiesel that needs 5% palm oil content. Therefore, the demand for CPO in China will rise,” said Foreign Minister Retno Marsudi at Hotel Conrad Beijing on Sunday (5/14).
According to Retno, President Joko Widodo in a bilateral meeting with Chinese President Xi Jinping has expressed Indonesia's willingness to increase the export of the commodity.
The Chinese Government, said Retno, responded positively to Indonesia’s offer.
"Therefore, hopefully our exports in the future will be improved to support Chinese class-5 biodiesel," said Retno as quoted from Antara.
In addition, Joko Widodo has also invited Xi Jinping to invest in CPO derivative industry in Indonesia.
During the meeting, Joko Widodo and Xi Jinping had witnessed the signing of three documents of cooperation, the first of which was the implementation of the Indonesia-China Comprehensive Strategic Partnership in 2017-2021 signed by Foreign Minister Retno and Chinese Foreign Minister Wang Yi.
The second document is the signing of the China-Indonesia Economic and Technical Cooperation document signed by the National Development Planning Minister Bambang Brodjonegoro and Chinese Minister of Commerce Zhong Shan.
The third cooperation signed is the facilitation of the Jakarta-Bandung rapid train project by Hanggoro, President Director of KCIC, and Hu Huaibang, President Director of China National Development Bank, with a commitment value of $4.498 billion.
"We are also discussing cooperation in the context of palm oil exports. China has developed class-5 biodiesel that needs 5% palm oil content. Therefore, the demand for CPO in China will rise,” said Foreign Minister Retno Marsudi at Hotel Conrad Beijing on Sunday (5/14).
According to Retno, President Joko Widodo in a bilateral meeting with Chinese President Xi Jinping has expressed Indonesia's willingness to increase the export of the commodity.
The Chinese Government, said Retno, responded positively to Indonesia’s offer.
"Therefore, hopefully our exports in the future will be improved to support Chinese class-5 biodiesel," said Retno as quoted from Antara.
In addition, Joko Widodo has also invited Xi Jinping to invest in CPO derivative industry in Indonesia.
During the meeting, Joko Widodo and Xi Jinping had witnessed the signing of three documents of cooperation, the first of which was the implementation of the Indonesia-China Comprehensive Strategic Partnership in 2017-2021 signed by Foreign Minister Retno and Chinese Foreign Minister Wang Yi.
The second document is the signing of the China-Indonesia Economic and Technical Cooperation document signed by the National Development Planning Minister Bambang Brodjonegoro and Chinese Minister of Commerce Zhong Shan.
The third cooperation signed is the facilitation of the Jakarta-Bandung rapid train project by Hanggoro, President Director of KCIC, and Hu Huaibang, President Director of China National Development Bank, with a commitment value of $4.498 billion.