The new ASEAN–EU Strategic Partnership announced on 1 December 2020 marks a turning point in the relationship between the two regional organisations — not only has the donor–recipient dynamic of previous decades disappeared, but now the European Union may need ASEAN more than ASEAN needs the European Union. The strategic partnership contains cooperative arrangements on a wide…
Indonesia, the world’s fourth most populous nation, and 10th largest economy in terms of purchasing power parity, has made enormous gains in poverty reduction – cutting the poverty rate by more than half since 1999, to 9.78 percent in 2020. Nevertheless, out of a population of 270.2 million, an estimated 26.42 million Indonesians still live…
Economist at UOB Group Enrico Tanuwidjaja evaluates the latest trade balance figures in Indonesia. “Indonesia posted another trade surplus of +USD2.0bn in January 2021, slightly narrower from December 2020’s +USD2.1bn. This marked a ninth-straight month of trade surplus since May 2020.” “Exports slowed by +12.2% y/y in January to USD15.3bn (vs. December’s +14.6%) following lower…
The Philippines Coconut Authority (PCA) is pushing to increase the country’s biodiesel mandate in transport to 5pc (B5) from 2pc currently. B2 has been in place since 2009 but Covid-19 disruptions to the biodiesel supply chain meant the Philippines missed its target to achieve B5 in 2020. This was the second time the implementation was…
As the world’s largest producer and consumer of palm oil, the palm oil industry has become an important part of Indonesia’s economy. At least half of the world’s palm oil supplies are supplied from Indonesia. Indonesia supplies with an output of around 40.6 million tons, and export volume of 29.3 million tons in 2018. This…
The Malaysian Palm Oil Board (MPOB) has produced a new concept of snack food with high commercial potential made from red palm oil. Director-general Dr Ahmad Parveez Ghulam Kadir said the extruded snack food has already been commercialised in China, and this could further increase China’s demand for palm oil. “This red palm-based snack is…
Global baking ingredients company Royal Zeelandia Group has announced plans to make its use of palm oil 100% sustainable. The target was set out in a recent case study published by the World Wide Fund (WWF) for Nature. Production of palm oil, widely used as a cooking oil and ingredient, has been blamed for deforestation of…
On March 7, the Swiss will vote on a free trade agreement with Indonesia. This is the first treaty to include sustainability criteria in the terms of trade, says Simone de Montmollin, a member of the support committee. The deal, which has already been formally ratified, aims to ease Swiss exports to Indonesia by removing…
Indonesia’s exports of palm products managed to increase amid the pandemic Covid-19. Last year, the export value reached US$22.97 billion or around Rp321.5 trillion. “Exports grew 13.6 percent from 2019,” Eddy Abdurrachman, head of the Oil Palm Plantation Fund Management Agency (BPDKS), said in a national seminar on strengthening palm oil management policies, Wednesday, February…
The Palm Oil Plantation Fund Management Agency (BPDPKS) chairperson Eddy Abdurrachman in Wednesday’s national webinar on palm oil claimed that the palm oil production during the 2020 pandemic had increased compared to the previous year with a total production of 51.58 million tons. The leftover supply from 2019 was reportedly 4.6 million tons. “Which means…
Palm oil producer PT Astra Agro Lestari Tbk. is forecasting a modest production growth of about five percent in 2021 as most of its crop were already mature, there was no acreage expansion plan, and mobility restriction under the current pandemic limited purchase of oil palm fruits from outside, its President Director, Santosa, said. Speaking…
JAKARTA, Jan 28 (Reuters) – Indonesia set a higher reference price for crude palm oil (CPO) for February at $1,026.78 per tonne, a Trade Ministry regulation published on Thursday showed, up from $951.86 per tonne in January. Based on the reference price, CPO export tax will be set at $93 per tonne in February, while…
Jakarta (ANTARA) – Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia’s economy had recovered from the impact of the COVID-19 pandemic, with some indicators having shown a positive trend. “We observed that the consumer confidence index had reached 96.5 in December. We are optimistic of it reaching 100 points,” Hartarto remarked here on…
The German confectionery industry has reaffirmed its position of supporting ethically monitored production methods across the value chain, including palm oil processing – which is now reportedly 94% certified from sustainable sources, writes Neill Barston. According to the figures from the country’s Federal Association of confectionery (BDSI), studies from Meo Carbon Solutions have shown that…
Red palm oil is produced from pulp of the fruit of the African oil palm (Elaeis guineensis). In its unprocessed state, the oil has an intense deep red colour because of its abundant carotene content. It has a bold, vegetal, rich and smoky paprika-like flavour that enhances spicy foods and is widely used in Africa,…
TEMPO.CO, Jakarta – President Joko “Jokowi” Widodo believes that the national economy could revive and recover to normal as before the Covid-19 pandemic. He said several signs of economic improvement have begun to appear.Jokowi outlined that the consumer confidence index has been at 92 and the purchasing manager index (PMI) rose to 51.3, or almost…
The world’s top producers of palm oil, Indonesia and Malaysia, are looking to join forces for the first time to run an advocacy campaign in Europe, where increasingly tight regulations are threatening sales in their third biggest market. Through the platform of the Council of Palm Oil Producing Countries (CPOPC), the two countries have sent…
Indonesia and Malaysia, which together account for 85% of global output, in particular have come under fire for clearing biodiversity-rich rainforests and allegations of forced labour. Top palm oil producers said on Thursday that the industry is making strides towards transparency and sustainability across its supply chain despite campaigns against use of the oil. Campaigners…
Indonesia, the world’s biggest palm oil producer, will increase its refined palm oil exports after raising taxes, leaving Malaysia to become more competitive in crude palm oil (CPO) exports, a leading industry analyst said. The reordering of palm oil trading follows Indonesia’s decision last month to raise the export levy to a progressive system of…
No country is immune to the rapid disruption occurring in the global energy sector. New technological innovations in both supply and demand have changed the technical versus economic discourse. Renewables are now cheaper than any fossil fuel in most parts of the world. And Indonesia’s no exception to this transition as per IEEFA. The sharp…
