Indonesian palm oil exports to China will reach 7 million tons

Published 2023년 8월 27일

Tridge summary

Indonesia is expected to export up to 7 million tons of palm oil to China in 2023, with China planning to purchase around 1 million tonnes of palm oil by the end of that year. The Chairman of the Indonesian Palm Oil Producers Association mentioned that there are other countries, such as those in Central Asia, Africa, and Russia, that also have the potential to become export markets for Indonesian palm oil. However, Indonesian palm oil exports to Russia face obstacles due to Letters of Credit, although China has offered assistance in overcoming these obstacles.

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Original content

Reporter: Sabrina Rhamadanty | Editor: Yudho Winarto KONTAN.CO.ID - JAKARTA. Chairman of the Indonesian Palm Oil Producers Association (Gapki) Eddy Martono revealed, Indonesia is predicted to export up to 7 million tons of palm oil to China during 2023. After China plans to purchase around 1 million tonnes of palm oil by the end of 2023. "China in 2023 will increase purchases of around 1 million tons. So it is estimated that this year Indonesia's total palm oil exports to China can reach 7 million tons," he said when contacted by Kontan.co.id, Sunday (27/08). Eddy added, apart from China there are several countries that have the potential to become export markets for Indonesian palm oil. Among them are countries in Central Asia, Africa and Russia. Even so, Indonesian palm oil exports to Russia are constrained by Letters of Credit (L/C). China is also clear that Eddy has offered Indonesia assistance in overcoming these obstacles. "For this obstacle, the Bank of China has offered to ...

Source: Kontan