China's purchase of Indonesian palm oil CPO will boost FFB price

Published 2022년 7월 27일

Tridge summary

China has agreed to buy one million tons of Indonesian crude palm oil (CPO), which is expected to raise the price of fresh fruit bunches at the farm level. The deal, made during a bilateral meeting between President Joko Widodo and Premier Li Keqiang, will increase the volume and value of Indonesian CPO exports. The meeting also covered cooperation in investment, infrastructure, finance, funding, and maritime affairs, and discussed the development of a green industrial park in North Kalimantan and the completion of the Jakarta-Bandung high-speed railway project.

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

Original content

Jakarta (ANTARA) - China's commitment to purchase one million tons of Indonesian crude palm oil (CPO) products is expected to help increase the price of fresh fruit bunches (FFB) at the farm level. Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, made the observation in a written statement issued in Jakarta on Wednesday. The commitment will also increase the volume and value of exports of Indonesian CPO products, which are currently being pursued after an export tire, Pandjaitan said. "Thank you for the support of President Xi Jinping and Premier Li Keqiang for their commitment to import palm oil from Indonesia. We hope that China will continue and increase trade in palm oil from Indonesia," he added. China's commitment to buy one million Indonesian CPO products is the result of a bilateral meeting between President Joko Widodo (Jokowi) and Premier Keqiang in Beijing on July 26, 2022. Palm oil is the most productive oil crop ...

Source: Antaranews