Nusa Dua. Indonesia is taking steps to increase competitiveness and productivity in its palm oil industry, especially through boosting domestic consumption. Palm oil is the country’s largest export commodity, earning it more than Rp 27 trillion ($1.9 billion) in state revenue. Indonesia currently exports about 70 percent of its palm oil, also making it the…
“Indonesia is a vast market with more than 260 million people. We need to take this as leverage in establishing mutually beneficial economic cooperation at the bilateral, regional and global levels” Jakarta (ANTARA) – Economic diplomacy has become the priority in Indonesia’s foreign policy for the 2019-2024 period. To conduct economic diplomacy, the Ministry of…
Oil palm is the most productive vegetable oil crop, known for producing four to nine times the yield of other oilseed crops and being the cheapest at an average margin of 20 percent compared to the price of other oilseed crops — or US$200 per ton compared to $360 per ton for soybeans, the crop…
Jakarta. Indonesia’s crude palm oil production rose by 14 percent to 34.7 million metric tons in the first eight months of 2019, from the same period last year, while exports of the commodity increased by 3.8 percent to 22.7 million tons, according to data provided by an industry group. Domestic consumption of palm oil soared…
Found as an ingredient in many processed and packaged foods, palm oil is the most widely consumed vegetable oil. Now, researchers reporting in Current Biology on October 21 have discovered an unlikely ally for palm oil production: pig-tailed macaques. Macaques have had a reputation as crop raiders, but the new study shows they in fact…
MUMBAI (Reuters) – Indian refiners have stopped buying Malaysian palm oil for shipment in November and December fearing New Delhi could raise import taxes or enforce other measures to curb imports from the Southeast Asian nation, five traders told Reuters on Monday. Lower purchases by India, the biggest buyer of Malaysian palm oil so far…
A major palm oil grower in Indonesia is breeding an army of predatory bugs to protect trees from pest infestations that could hurt output. PT Astra Agro Lestari, the country’s biggest listed plantation company, is growing several insects including Sycanus, a kind of assassin bug, to battle leaf-eating fire worms, according to Bandung Sahari, vice…
Indonesia’s far from done in its campaign to squeeze more value from its abundant natural resources, and its next target could be one of the most ubiquitous commodities of all. President Joko Widodo on Wednesday said the resources powerhouse wants to process more crude palm oil domestically, which would potentially mean fewer exports of the…
The snail–like pace at which Indonesia is improving the sustainability of its palm oil agriculture in the face of mounting pressure from global trade players could jeopardize the commodity’s future, experts have warned. Among the critics of Indonesia’s palm oil agriculture management is Bogor Agricultural University (IPB) forestry expert and Center for International Forestry Research…
Recently, Indonesia was faced with a problematic issue relating to the crude-palm-oil (CPO) industry as the European Union announced plans to ban the importation of the commodity. The EU claimed that environmental concerns were a strong reason for the ban, but a closer look suggests that European domestic interests were also a major incentive. According…
Does Nepal produce palm oil? No. So how did it feature as Nepal’s top export item in the last fiscal and in the first month of this fiscal? Nepal exported Rs 10.3 billion of palm oil in the last fiscal, which ended in mid-July. This export volume surprised many as the central bank report had…
MUMBAI – Earlier this month, India raised customs duty on Malaysian palm oil, bringing the import duty rate at par with those on other countries such as Indonesia. However, Indonesian Palm Oil Association sees the hike as too late to recover the market share lost to its closest competitor in India, the world’s biggest importer…
India’s palm oil imports in 2019/20 are likely to rise 2% from a year earlier to a record high as consumption in the world’s biggest edible oil buyer will expand more rapidly than local supplies, a leading industry analyst said on Wednesday. Higher imports may help support benchmark Malaysian palm oil prices that in July…
SINGAPORE – Indonesian palm oil companies are still experiencing pressure. The low price of Crude Palm Oil (CPO) on the world market since the end of 2018 has not yet shown a good stretch. Behind these conditions, Astra Agro lestari as one of the largest companies in the palm oil industry in Indonesia was appointed as Asia’s…
PUTRAJAYA: It is unfair to keep blaming the palm oil industry for the haze, as many companies adhere to sustainable agriculture standards, says Teresa Kok. The Primary Industries Minister said palm oil companies subscribe to the principles set by initiatives aimed at promoting sustainable palm oil production such as the Roundtable on Sustainable Palm Oil…
KUALA LUMPUR (Sept 19): It is inaccurate to direct much of the blame for the recent haze in Southeast Asia towards the palm oil industry, as oil palm plantations are generally not the source of burning, according to the Council of Palm Oil Producing Countries (CPOPC). Fires recorded on plantation areas have generally spread there…
The Energy and Mineral Resources Ministry is working to secure global recognition of Indonesian palm oil–based biofuels as a renewable energy source after the European Union categorized the product as unsustainable earlier this year. The ministry’s deputy minister Arcandra Tahar said he met representatives from the International Energy Agency (IEA) and International Renewable Energy Agency…
JAKARTA, Sept 12 (Reuters) – * Azis Hidayat, chairman of the Indonesian Sustainable Palm Oil (ISPO) secretariat, said the area covered by ISPO certified plantations will reach 5.5 million hectares by the end of 2019 * Currently there are 5.17 million hectares of ISPO certified plantations, made up of plantations run by 550 companies and…
Jakarta. Indonesia’s palm oil lobby group and one of the country’s most prominent agricultural research institutes signed memorandum of understanding in Bogor, West Java, on Tuesday on the development of sustainable palm plantations. The agreement between the Indonesian Palm Oil Association (Gapki) and Bogor Agricultural University (IPB) emphasizes technology-based research and development to meet the…
MUMBAI/NEW DELHI (Sept 5): India has raised the tax on refined palm oil from Malaysia to 50% from 45% for six months to curb imports and boost local refining. The world’s biggest edible oil importer currently imposes a 40% import tax on crude palm oil and 50% on refined palm oils. But since January, shipments…
