August 2017, Palm Oil Exports Grow Up To 24 Percent
By : Hariyanto And Aldo Bella Putra | Wednesday, October 11 2017 - 21:30 IWST
INDUSTRY.co.id - Jakarta - While experiencing a lot of pressure, in August 2017, exports of palm oil products Indonesia continues to grow to 24%.
"If in July 2017, the export of Crude Palm Oil (CPO) and its derivatives by 2.4 million tons rose to 2.98 million tons, so in August the export performance of CPO increased by 24 percent," said Executive Secretary of Indonesian Palm Oil Entrepreneurs Association (GAPKI), Togar Sitanggang in Jakarta, Wednesday (11/10/2017).
Exports of CPO to China recorded a record breaking this year as it rose 169% from July from 167,280 tons to 449,200 tons in August 2017. "China is increasing its supply of palm oil to fill domestic stocks," Togar said.
Meanwhile, Executive Director of the Indonesian Palm Oil Board (DMSI), Iskandar Andi Nuhung, said the increase in exports to China is done for the needs of biodiesel.
"The demand is increasing because the palm is multifunctional, not only for cooking oil but for cosmetics, bioenergy and pharmacology industries, but the world economy is not disturbed, so it does not affect the demand for palm oil," Iskandar said.
In addition to China, India will increase CPO imports despite already implementing import duties (BM) is high. European countries that hate attack CPO products still need CPO for domestic consumption.