Bisnis Indonesia, 2 October 2018
Cofco International Palm Oil Production Analyst Roby Fauzan predicted Indonesia’s exports of crude palm oil (CPO) and its derivatives wouldn’t recover at least until October. India, China, and European Union, three main CPO importers from Indonesia, have yet to show any signs that they intend to receive more CPO, he explained. On the other hand, Malaysia has seen a 52% CPO export increase in September, compared to August. Malaysia has revoked its CPO export duty as incentives for exporters. Thus, the Indonesian government should promote biodiesel exports to diesel fuel importers and reduce or revoke CPO export duty, he said.
Meanwhile, palm oil exports set a new record in August, according to the data compiled by the Indonesian Palm Oil Association (GAPKI). A total of 3.3 million metric tons of crude palm oil, palm kernel oil (PKO), their derivatives, oleochemical, and biodiesel were exported in August 2018, up 2% from 3.22 million metric tons in July. Exports of CPO, PKO, and their derivatives also reached the highest record in 2018 at 2.99 million metric tons. Palm oil exports, however, dropped 2% in the period of January to August 2018 to 19.96 million metric tons, from 20.43 million metric tons during the same period in 2017, GAPKI Executive Director Mukti Sardjono said on Monday (October 1).