Indonesia: Pursuing the target of rejuvenating palm oil, the government prepares a budget of IDR 6.1 trillion

Published 2023년 11월 2일

Tridge summary

The Indonesian government has allocated a budget of $386 million to rejuvenate 180,000 hectares of smallholder palm oil palms this year as part of their efforts to increase domestic crude palm oil production. The Coordinating Minister for Economic Affairs, Airlangga Hartarto, explained that this program is necessary to meet the increasing demand for vegetable oils, which is estimated to reach an additional 200 million tons by 2050. The budget will be transferred directly to farmers' accounts to support them in starting the rejuvenation process and create market access for them.

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Original content

Reporter: Lailatul Anisah | Editor: Noverius Laoli KONTAN.CO.ID-NUSA DUA. The government has prepared a budget of US$ 386 million or the equivalent of IDR 6.1 trillion to pursue the target of rejuvenating 180,000 hectares of smallholder palm oil palms this year. Coordinating Minister for Economic Affairs Airlangga Hartarto said that this PSR program needs to be carried out, one of the ways is to increase domestic crude palm oil production. Moreover, in 2050 the world will need an additional 200 million tons of vegetable oil production with an estimate that the world population will reach 9.8 billion people. "Indonesia has replanted 200,000 hectares of oil palm since 2007 and 180,000 hectares are being replanted this year with a budget allocated of US$ 386 million," said Airlangga at the 2023 Indonesia Palm Oil Conference in Nusa Dua, Thursday (2/ 11). According to him, palm oil is a sustainable and efficient way to meet the increasing demand for vegetable oils. Palm oil also ...

Source: Kontan