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…
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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…
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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…
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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…
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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…
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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,…
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Higher palm oil prices (up 60% y-o-y) have increased realisations as well as profitability of Godrej Agrovet’s vegetable oil segment. Lower supplies from South-East Asia are leading to higher palm oil prices in India. With gradual reopening of the economy, demand from HoReCa segment is likely to improve, which may further increase palm oil prices.…
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Jakarta. The inclusive closed-loop model has helped improve the vulnerable oil palm smallholders’ productivity and well-being, key for increasing Indonesia’s palm oil productivity over the next few decades, a powerful business lobby said on Thursday. The inclusive closed-loop model puts farmers at the center of palm oil production, connecting them with palm oil companies, banks,…
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Jakarta. Coordinating Minister for Economic Affairs Airlangga Hartarto ensures the government will continue to bolster both the palm oil industry’s economic resilience and socio-environmental sustainability through a string of policies. According to Airlangga, the agricultural, forestry, and fisheries sector is the third-largest contributor to Indonesia’s GDP. Social distancing measures across various regions have disrupted the…
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Indonesia’s palm oil industry remained a main pillar of the country’s economic resilience in times of the ongoing pandemic and therefore every element of the nation should work together to counter the negative campaigns against it coming from abroad or from within the country, a senior minister said Thursday (3/12.) Speaking on the second day…
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Yudison smiled proudly. A 28-year-old youth is a local boy from Lung Melah Village, East Kutai, East Kalimantan, who has successfully pursued a career in a palm oil plantation company. At a relatively young age, this Kayan Dayak-blooded man has just received a letter of promotion at PT Karyanusa Ekadaya (KED), the company where he…
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The UK Government has now finalized its proposal for the Due Diligence law that has been under discussion for several months. The law will significantly affect Indonesian palm oil exporters, as palm oil has been identified as one of several commodities that will be targeted, along with soy, coffee, timber, and others. The Due Diligence…
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Jakarta (ANTARA) – Indonesia’s crude palm oil (CPO) production has shown signs of recovery with a consistent production hike in the past three months, the Indonesian Palm Oil Association (Gapki) reported. CPO production stood at 3.85 million tons in July, rose to 4.38 million tons in August, and expanded further to 4.73 million tons in…
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Vitamin E extracted from palm oil helps in boosting the immune response of the body, suggest the findings of a study conducted on mice liver cells. Palm oil contains abundant quantities of vitamin E compounds, which include tocopherols and tocotrienols. These compounds have antioxidant effects, which protect cells from damage from toxic chemicals produced by…
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KUALA LUMPUR (Oct 16): All edible oils should be treated equally in terms of sustainability without bias against palm oil, asserts the Malaysian Palm Oil Council (MPOC). Its chief executive officer Datuk Dr Kalyana Sundram contends that soy, sunflower and canola are so far behind in proving their sustainability, there is little chance that they…
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Agriculture companies PT Petrokimia Gresik, PT Astra Agro Lestari and PT Rukan are ramping up their use of technology to streamline business and overcome challenges brought about by the COVID-19 pandemic. Fertilizer company PT Petrokimia Gresik is planning to introduce machine learning and big data into its operations by integrating data that includes customer reviews,…
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KUALA LUMPUR (Sept 24): Indonesia’s crude palm oil production (CPO) is expected to rise 11% year-on-year (y-o-y) in 2021, thanks to timely fertiliser application and better weather this year, said UOB Kay Hian Research. In a note, analysts Leow Huey Chuen and Jacquelyn Yow said the Indonesian Palm Oil Association (GAPKI) expects the republic’s domestic…
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Jakarta (ANTARA) – Indonesia’s Energy and Mineral Resources Minister Arifin Tasrif shed light on the country’s clean energy development strategies at the 11th Clean Energy Ministerial Meeting (CEM 11) and the 5th Mission Innovation (MI-5) organized virtually, Tuesday. Indonesia had copious renewable energy sources, including renewable energy potential of nearly 400 GW, Tasrif noted in…
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Jakarta (21/10). PT Astra Agro Lestari deepest and heartfelt condolences on the demise of Mr. Angky Utarya Tisnadisastra, as Independent Commissioner (2017-2020), Chairman of the Audit Committee (2018-2020), and Chairman of the Nomination and Remuneration (2018-2020) of the Company in Jakarta on Monday, 21 September 2020. May his soul rest in peace. (Change of position…
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Jakarta. The growing number of “palm oil free”-labeled products on the market can cast palm oil in an unfavorable light, according to a recent webinar held by the Indonesian Palm Oil Association or Gapki. Earlier this month, Australian chocolate company Darell Lea launched an ad to announce that they have entirely ditched palm oil in…
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