Indonesia’s August exports, trade surplus hit record as resources boom

JAKARTA, Sept 15 (Reuters) – Indonesia’s exports hit a record high of $21.42 billion in August, boosted by surging commodity shipments, helping Southeast Asia’s biggest economy post its largest ever monthly trade surplus, official data showed. Robust exports helped Indonesia pull out of recession in the second quarter, but analysts say its recovery may be…

Improving sustainable Indonesian palm oil

The global concerns about sustainability are steadily rising. Many countries are working to prevent climate change. Various targets have been set to minimize the effects of global warming. As a result, the issuance of green bonds has increased rapidly in recent years. Investment managers are also beginning to gradually reduce high carbon-producing sectors, such as…

Turning palm oil waste to wealth

An agriculture, the so-called waste is not wasted. The Chief Executive, Golden Seed Fats and Oils Limited,Lanre Sam-Akinkunmi, is proving this. He has explored every part of the palm tree. These include the empty fruit bunches (EFB), mesocarp fibres, palm kernel shells, and also the fronds and trunks. Though he keeps palm kernel shells left over…

When in doubt, palm oil

Amid Covid-uncertainty and a massive second wave, Indonesia decided to double down on what its export economy does best: palm oil. An export tariff cut came into effect over the weekend. The idea is to make Indonesian palm oil and its derivatives irresistible on the global market. The way the tariff scheme is set up,…