Indonesia, Uzbekistan Strengthen Vegetable Oil Industry Cooperation Through MoU Signing in Tashkent

Recent NewsBy admin September 17, 2023 Leave a comment

TEMPO.CO, Tashkent, Uzbekistan – The Indonesian Palm Oil Association (GAPKI) and the Uzbekistan Fats & Oils Association/Assotsiasiya “Uzyog’moysanoat” signed a Memorandum of Understanding (MoU) to establish cooperation in the field of expertise exchange in vegetable oil production and processing at Tashkent International Hotel in Uzbekistan, September 14, 2023, according to the Indonesian Embassy in Tashkent. Based…

Anti-Deforestation Law Is EU’s Measure to Regulate Palm Oil Price, Expert Says

Recent NewsBy Admin25 August 31, 2023 Leave a comment

Researcher from the Institute for Economic and Social Research of Universitas Indonesia Eugenia Mardanugraha said that the EU’s Anti Deforestation Law (EUDR) is Europe’s line of action to control the prices of palm oil. According to Eugenia, the regulation to prevent agricultural import in relation to illegal deforestation is no more than the EU’s ploy to…

China to Import More Indonesian Palm Oil in 2024: Gapki

Recent NewsBy admin August 21, 2023 Leave a comment

Jakarta. China will likely purchase 8 million tons of Indonesian palm oil in 2024 after imports suffered a decline amid the Covid-19 pandemic, according to an association of the commodity’s producers. Beijing has been the top buyer of Indonesian palm oil by country since 2019 with imports reaching 8.15 million tons that year. However, the pandemic caused China…

Indonesia’s Economic Growth Exceeds 5% for 7th Consecutive Quarter

Recent NewsBy admin August 7, 2023 Leave a comment

Jakarta. Indonesia’s economy expanded by 5.17 percent in the second quarter of 2023, continuing its robust recovery following the Covid-19 pandemic and positioning the nation among the world’s top-performing economies in key indicators, Chief Economic Minister Airlangga Hartarto said on Monday. This latest data marks the seventh successive quarter in which the economy has grown by…

Indonesia to Use Biodiesel 35 Starting August

Recent NewsBy admin August 1, 2023 Leave a comment

Jakarta – The government will apply biodiesel 35 or B35 simultaneously nationwide starting Tuesday, August 1. B35 is a fuel with 35 percent biofuel (BBN) mixed into fuel oil (BBM). The B35 was first launched on February 1 this year. “Since February 1, some places actually already have B35. But there are still several [business entities] terminals…

Saudi Arabia Looks to Invest in Indonesia’s Palm Oil Industry

Recent NewsBy admin July 28, 2023 Leave a comment

Jakarta – A Trade Attache to the Indonesian Embassy for Riyadh, Saudi Arabia stated that Saudi Agriculture and Livestock Company (SALIC) is interested to invest in vegetable oil products or palm oil in Indonesia. “Concerning edible oil, SALIC is very interested to cooperate with Indonesia and Indonesia is one of the biggest crude palm oil…

Indonesia Expat Pertamina of Indonesia Introduces Gasoline Containing 5 percent Ethanol Blend

Recent NewsBy admin July 27, 2023 Leave a comment

Indonesia’s state-owned energy company, Pertamina, has introduced a new gasoline product that includes 5 percent bioethanol derived from sugar molasses. This move is part of the country’s efforts to enhance the availability of renewable fuels. Pertamina has recently commenced sales of “Pertamax Green 95,” a premium gasoline blended with 5 percent bioethanol, in both Jakarta…

Portuguese Minister Comes to Jakarta To Discuss Palm Oil

Recent NewsBy admin July 26, 2023 Leave a comment

Jakarta – Indonesia’s Foreign Minister Retno Lestari Priansari Marsudi held a bilateral meeting with Portuguese Foreign Minister Joao Gomes Cravinho in Jakarta on Monday. During the meeting they discussed a number of issues, which include palm oil, investments, and maritime cooperation. “During our meeting with Minister Cravinho, we discussed a number of collaborations, including on…

India Increases Edible Oil Imports Amid Supply Uncertainty

Recent NewsBy admin July 26, 2023 Leave a comment

MUMBAI – India’s July edible oil imports were set to jump to a record 1.86 million metric tons, nearly 60% more than normal, as refiners raised purchases to build stocks for festivals amid uncertainty over supplies from the Black Sea, dealers and cargo surveyors said on Tuesday, 25 July 2023. Higher purchases by the world’s…

Indonesia’s Pertamina launches sales of gasoline with 5% ethanol mix

Recent NewsBy admin July 25, 2023 Leave a comment

Indonesian state-owned energy company Pertamina has launched sales of gasoline containing 5% of bioethanol made from sugar molasses in two cities, as the country aims to expand the availability of renewable fuels. Pertamina said it has started selling Pertamax Green 95, its 95-octane gasoline mixed with 5% bioethanol, in 15 petrol stations in the capital…

India’s June palm oil imports rise 56% to 3-month high – trade body

Recent NewsBy admin July 17, 2023 Leave a comment

India’s palm oil imports jumped 56% to a three-month high in June, as buyers took advantage of a dip in prices to increase purchases, a leading trade body said. Imports rose to 683,133 metric tons in June, up from 439,173 metric tons in May as prices fell to their lowest in 28 months, the Mumbai-based…

VEGOILS-Palm oil extends weekly gains on rival oil strength, bargain-buying

Recent News, UncategorizedBy admin July 15, 2023 Leave a comment

Malaysian palm oil futures ended with a modest recovery on Friday and logged a third consecutive weekly gain as the strength in rival edible oils countered a firmer yen. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed 12 ringgit, or 0.3%, higher at 3,877 ringgit ($857.17) a metric ton. Palm…

Govt Gives Green Light To Set Up Special Palm Oil Institution

Recent NewsBy admin July 1, 2023 Leave a comment

Jakarta – The Indonesian government has given the green light for the oil palm growers’ proposal to establish a special institution which is focused on developing and managing the country’s palm oil industries. Musdalifah Mahmud, Deputy in charge of food and agriculture coordination at the economic coordinating ministry, said that the special institution is badly…

Indonesia plans to hike biodiesel mandate in next few years

Recent NewsBy admin June 26, 2023 Leave a comment

Indonesia plans to raise its mandatory palm oil-based biodiesel blending to 40% in the next few years, but for now will keep it unchanged at 35%, the country’s energy minister said on Monday. The world’s biggest palm oil producer raised mandatory blending from 30% to 35% in February, however it has not been fully implemented in…

Global Vegoil Need to Double, RI Can Raise Market Share

Recent NewsBy admin June 21, 2023 Leave a comment

Jakarta – The global demand for vegetable oils will keep increasing in the future, along with the growth of the global population. As the global population is projected to reach 10 billion in 2050, the need for vegetable oils will increase to 307 million tons per year. Farid Amir, Director of Agricultural and Forestry Product…

Soft demand for CPO can lead to higher stockpile

Recent NewsBy admin June 14, 2023 Leave a comment

The soft demand for crude palm oil (CPO) could potentially lead to higher stockpile expectations in the near future. Citing an independent cargo surveyor Amspec, Maybank Investment Bank (Maybank IB) Research and Hong Leong Investment Bank (HLIB) Research said Malaysia’s preliminary export estimates for CPO shipments in the first 10 days of June 2023 showed…

VEGOILS-Palm oil rises to two-week closing high on stronger crude, soyoil

Recent NewsBy admin June 13, 2023 Leave a comment

KUALA LUMPUR – Malaysian palm oil futures extended early gains on Tuesday to hit their highest closing level in two weeks, lifted by stronger crude and soyoil prices. The benchmark palm oil contract FCPOc3 for August delivery on the Bursa Malaysia Derivatives Exchange gained 73 ringgit, or 2.18%, to 3,422 ringgit ($741.66) a metric ton, its highest close…

Malaysia end-May palm oil stocks surge as output swells

Recent NewsBy admin June 12, 2023 Leave a comment

KUALA LUMPUR – Malaysia’s end-May palm oil inventories rose for the first time in four months, after output surged to its highest level so far this year, data from the nation’s palm oil board showed on Monday. Stockpiles in the world’s second-largest producer rose 12.63% from the month before to 1.69 million metric tonnes, the Malaysian Palm…

Indonesia to expand palm growing area

Recent NewsBy admin June 1, 2023 Leave a comment

Indonesia aims to accelerate its oil palm replanting programme to double the area it covered between 2017 and 2022 in an effort to maintain production, according to a government official. The world’s biggest palm oil producer launched a subsidised palm replanting programme for smallholders in 2017 to boost output without clearing more forested land and to help…

Indonesia, Malaysia criticise EU for ‘discriminatory and punitive’ actions against palm oil sector

Recent NewsBy admin May 31, 2023 Leave a comment

Following a joint trade mission to the European Union (EU), Malaysia and Indonesia criticised the European Union Deforestation Regulation (EUDR) as “inherently discriminatory and punitive in nature”. In a joint statement on Wednesday (May 31), both countries warned that the regulation would have detrimental effects on international trade and also hinder the palm oil industry’s…

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