Indonesia: The EU is not the only reliable market for palm oil products; these countries can became saviors

Published 2023년 7월 4일

Tridge summary

According to the Secretary General of CPOPC, the European Union is no longer the main market for palm oil products, as its market share continues to decrease and is being replaced by other countries like India, China, and Pakistan. Indonesia is also exploring non-traditional markets like Africa to absorb its palm oil products and maintain a balance between producers and consumers. The country is focusing on increasing productivity to expand its market opportunities, with exports to Africa already seeing a significant increase.

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Original content

Jakarta, CNBC Indonesia - Secretary General of CPOPC Rizal Affandi Lukman revealed that the European Union is not the only reliable market for palm oil products. Even now the market share to Europe continues to decrease and is replaced by other potential markets. India, China, and Pakistan are now among the biggest importers of palm oil from Indonesia. In addition, Africa is also one of the non-traditional markets explored by Indonesia. The government is also making various efforts to absorb palm oil products in the country, so there is no oversupply. That way there is a balance from the producer and consumer side, and the product can be absorbed properly. "This also indicates that the dependence of the export market on the European Union is decreasing," he said on CNBC Indonesia Sawit Week, Tuesday (4/7/2023). He said previously Indonesia's palm oil market share to the European Union was 15-17%, now it is around 10.2%. This means that the European market is now starting to be ...

Source: Cnbcindonesia