3 large Indonesian palm oil markets demand the relaxation of export rules

Published Nov 3, 2023

Tridge summary

The Indonesian government is being urged by India, Pakistan, and China to ease export regulations for Indonesian palm oil due to high demand in these countries. India is the largest destination for Indonesian palm oil exports and hopes for easier export processes to meet the increasing consumption of vegetable oil. Pakistan also relies on palm oil imports from Indonesia to meet their vegetable oil needs, especially since they recently banned genetically modified food products, limiting their supply. Although China's population decline may lead to a decrease in demand for cooking oil, there is still a potential for high demand in the next few years.

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

Original content

Nusa Dua, CNBC Indonesia - Three large markets for Indonesian palm oil products hope that the government will make it easier to export this mainstay commodity. The three big markets are India, Pakistan and China. India is the largest destination country for Indonesian palm oil exports. Due to the high demand for palm oil, India hopes that the Indonesian government will make it easier to export this commodity to India. "We hope that the Indonesian Government can review the current policy," said Dr. B. V. Mehta, Executive Director of The Solvent Extractors' Association of India at the Indonesian Palm Oil Conference (IPOC) 2023, Nusa Dua Bali, Friday (3/11/23). According to Mehta, many factors cause global demand to continue to increase. India's population growth itself is still increasing, which has resulted in an increase in consumption of vegetable oil, in 2008-2009 amounting to 14.1 million tonnes, to 22.5 million tonnes in 2021-2022. "Dependence on vegetable oil imports has ...

Source: Cnbcindonesia