Beware of uncertain Indonesian palm oil supply, importers prepare alternatives

Published 2024년 11월 8일

Tridge summary

The article highlights the concerns about the global palm oil supply decrease as demand continues to rise, leading to importers seeking alternatives. The Chinese market is shifting towards other vegetable oils, such as soybean oil, due to its affordability and the end of the cheapest palm oil era. In 2024, China's palm oil demand is predicted to drop by 30% because of high prices. Meanwhile, India and Pakistan face a gap between their demand and domestic production, necessitating significant imports of cooking oil. Africa also presents an investment opportunity for vegetable oil trade due to increasing demand. These developments were discussed at the 20th Indonesia Palm Oil Conference.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Nusa Dua (AGRINA-ONLINE.COM). Concerns about the decreasing supply of palm oil in the global market that continues to increase are increasingly encouraging importers to take anticipatory steps to find substitutes. As a result, analysts predict that the dependence of the largest importing countries of palm oil, which are the main destinations for Indonesian exports next year, will be greatly reduced. This was the main thread of the discussion at the first session of the 20th Indonesia Palm Oil Conference (IPOC), on Friday (8/11/24) about the prospects for the palm oil industry (Palm Oil Industry Prospect: Regional Prospect). The trigger for this concern is mainly due to the government's plan to increase biodiesel production and the increasing price of palm oil, one of which is due to the export levy on palm oil in Indonesia which is considered too high. According to Ryan Chen, Director of China CNF Business, Oils & Oil Seeds at Cargil Investments (China), there is a tendency for ...

Source: Agrina