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…
PETALING JAYA: India’s decision to further cut import duties on edible oils including palm oil starting Sept 11 is positive on the upstream planters and integrated plantation players regionally. According to CGS-CIMB Research, local planters such as IOI Corp Bhd , Kuala Lumpur Kepong Bhd (KLK) and Genting Plantations Bhd will stand to benefit from…
Deforestation trend has been occurring across the globe since long time ago as part of efforts to increase food supply and income. But data shows that the main cause of global deforestation is not forest clearing for development of oil palm plantations, but for the cattle farms. Professor of Forestry Faculty at Bogor University of…
The palm oil industry players said that negotiations on economic cooperation between Indonesia and United Arab Emirate will pave the way for Indonesian palm oil products to enter the other markets in the Middle East. The Indonesian Palm Oil Association (Gapki) Chairman Joko Supriyono said that the volume of Indonesian palm oil exports to UAE…
Indonesia’s trade surplus rose 19.8 percent annually to $2.59 billion in July, the second-highest level this year, after May, as high commodity prices buoyed exports, official data show. Statistics Indonesia (BPS) reported on Wednesday that exports reached $17.7 billion in July, up 29.3 percent year-on-year (yoy), buoyed by rising prices of commodities such as coal,…
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…
For some time, food companies have been searching for ways to reduce the amount of saturated fats in their products by replacing them with unsaturated fats — this is no easy task because the two kinds of fat have different properties. Saturated fats such as palm oil and coconut oil are solid at room temperature,…
Achievement of the B30 biodiesel development program demonstrates Indonesia’s success as a B30 pioneer, Dadan Kusdiana, Director General of New, Renewable Energy, and Energy Conservation (EBTKE) at the Energy and Mineral Resources Ministry (ESDM), said. “Our provision and utilization of biodiesel have made us the world’s leader in B30 implementation,” he affirmed here on Monday.…
Foreign direct investment (FDI) into Indonesia surged 19.6% on a yearly basis in the second quarter in rupiah terms, the country’s investment ministry said on Tuesday, the highest rise in over five years. Total FDI in April-June stood at 116.8 trillion rupiah ($8.06 billion), excluding FDI into banking and the oil and gas sector. The…
The Indonesian government has been sending mixed signals to the automotive industry as it looks to both electric vehicles (EV) and biofuels for greener road transportation. Experts queried by the Jakarta Post recommend that Indonesia focus on EVs, as this technology would dominate in the long run, but they added that biofuel may play a…
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…
Oil palm smallholders are on the path towards sustainability with Indonesian Sustainable Palm Oil (ISPO) certification. And palm oil critics should take note of this. The Indonesian palm oil community is well aware of how these smallholders serve as a backbone to the country’s palm oil output. Smallholders produce more than 40 percent of the…
The value of Indonesian palm oil product exports reached a decade high in May as commodity prices rose in line with the economic recovery seen in numerous developed and emerging economies. The average price of crude palm oil (CPO) on the Rotterdam market in terms of cost, insurance and freight (CIF) similarly reached a decade…
Having Swiss on board for the trade deal between Indonesia and European Free Trade Association, or EFTA, will convey a strong message regarding the discriminated palm oil to the European Union, or EU, according to Deputy Trade Minister Jerry Sambuaga. Indonesia and EFTA inked a comprehensive economic partnership agreement —also known as IE-CEPA— back in…
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,…
Market restrictions in the European Union continue to become the main hurdle for Indonesian palm oil exports for the last three years despite ongoing negotiations and efforts at the World Trade Organization, the industry association said on Thursday. The government has since 2019 engaged in negotiations with the EU and lodged a complaint with the…
Indonesia’s oil reserves will run out in about 10 years, assuming no new reserves are discovered. Natural gas is also estimated to be exhausted in approximately 22 years with existing reserves at 77.3 trillion cubic feet. Meanwhile, coal reserves of 37.6 trillion tonnes will be exhausted within 65 years if exploited at the same scale…
Ongoing negotiations between the European Union and Indonesia on a trade and investment deal should not be hampered by differences over palm oil, the EU’s top diplomat said, even as the bloc aims to phase out use of palm oil in fuel. Palm oil is one of the top exports from Southeast Asia’s largest economy…
Foreign Affairs Minister Retno Marsudi earnestly appealed to the European Union (EU) to avoid discriminating against Indonesian palm oil, as the Southeast Asian nation was endeavoring to achieve economic recovery amid the COVID-19 pandemic. “Indonesia’s request is simple that fair treatment be given to Indonesian palm oil,” Marsudi remarked during a virtual press statement after…
Indonesia’s exports racked up their strongest rise in 11 years in April, boosted by a surge in prices of key commodities such as palm oil and copper, though the unexpectedly robust figure is not expected to change the central bank’s policy settings. The resource-rich nation’s shipments rose 51.94% on a yearly basis to $18.48 billion,…
