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…
BIOFERTILISERS are “natural fertilisers that contain living microorganisms (live biomass or dormant cells of effective microbial strains) which, when applied to seed, plant surfaces, or soil, colonises the rhizosphere (i.e., plant-root interface) and promotes growth by increasing the supply or availability of primary nutrients to the host plant”. The term, “rhizosphere” refers to “the soil…
Jakarta (ANTARA) – Coordinating Economic Affairs Minister Airlangga Hartarto remained sanguine about Indonesia clocking a five-percent economic growth despite large-scale social restrictions (PSBB) being imposed in Jakarta and 23 districts and cities in six provinces on Jan 11-25. “We are optimistic, and the economic growth is projected at five percent by the end of the…
The Indonesian Palm Oil Association (GAPKI) on Thursday said government plans to roll out a B40 mandate that would require a 40% palm oil mix in domestic diesel could be delayed beyond the end of 2022. The world’s top palm oil producer said in November its plans to raise the bio-content of palm oil-based biodiesel…
JAKARTA – Indonesia has raised the crude palm oil (CPO) reference price and export levy for January, an official document on its trade ministry website showed on Monday. The reference price of crude palm oil will be raised to $951.86 per tonne in January from $870.77 in December while export tax collected from CPO will…
Jakarta (ANTARA) – Indonesia needs to build support in the global market to tackle the negative sentiment in the European Union for its palm oil, an official from the Coordinating Ministry for Economic Affairs has said. “For me, it is about how we build the spirit from the inside, or build sympathy from the global…
JAKARTA: Indonesia, the world’s top palm oil maker, may lower its palm oil biofuel allocation for 2021 as the government adopted a more cautious fuel consumption outlook next year, an official at the National Energy Council said on Wednesday. The energy ministry may lower the allocation of fatty acid methyl ester (FAME) made from palm…
Fitch Ratings-Singapore/Jakarta-08 December 2020: The revision in Indonesia’s export levy structure should support Indonesia’s biodiesel consumption growth in 2021 by boosting collections to fund the subsidy burden, Fitch Ratings says. This will also support crude palm oil (CPO) prices, and the Malaysian benchmark should average higher than our assumption of USD560/tonne (t) in 2021. However,…
