The Palm Scribe

Palm oil able to cover trade deficit

Investor Daily, 25 April 2018
Indonesian Palm Oil Association (GAPKI) Chairman Joko Supriyono said that palm oil industry was able to cover deficit in the national balance of trade. Indonesia recorded a $11 billion trade surplus in 2017. Palm oil contributed $23 billion to the balance of trade, meaning that without palm oil exports, Indonesia will suffer from a trade deficit of $12 billion, Joko said in Palangka Raya on Monday (April 24). Therefore, GAPKI appreciated President Joko Widodo’s actions in defending palm oil in international forums.

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