JAKARTA, Jan 29 (Reuters) – Indonesia state energy company PT Pertamina has ended a partnership with Italian oil, gas and power firm Eni SpA to process palm oil into fuel, Pertamina’s chief executive told a parliamentary committee on Wednesday. Pertamina’s Nicke Widyawati said during the hearing that Eni required internationally recognised certification for palm oil,…
North Sumatra University (USU) in Medan plans to open a brand new palm oil program following the announcement of the Education and Culture Ministry’s Kampus Merdeka (Freedom Campus) policy, which gives universities across the country greater freedom to establish new programs. USU rector Runtung Sitepu said the program would be fitting, as North Sumatra was…
India is set to import less than 70,000 tonnes of palm oil from Malaysia in January, the lowest since April 2011 and significantly lower than the 253,889 tonnes it imported in January 2019, traders and refiners said. India’s monthly palm oil imports from Malaysia could fall to the lowest level in nearly nine years in…
KUALA LUMPUR, January 26 – The Managing Director of the Malaysia Palm Oil Association (MPOA), Datuk Nageeb Wahab, said the attempt was only to protect European oilseeds. Nageeb told Malay Mail in an interview that the hostile campaign and the alleged justification of the EU are not justified. “We are more concerned about the reason…
Jakarta – The European Union had provoked a “trade war” by issuing discriminative restrictions on Indonesian palm oil, President Joko “Jokowi” Widodo tweeted on Saturday. “Indonesia has 13 million hectares of oil palm plantations that produce 46 million tons [of crude palm oil, or CPO] per year. The EU has been saying that Indonesian palm…
I wish to draw attention to the recent report in CNN referring to the world’s demand for palm oil igniti, g a climate bomb. The report published last month titled “Borneo is Burning: How the world’s demand for palm oil is driving deforestation in Indonesia”. This form of reporting is not constructive to addressing the…
Out of five renewable energy sources being developed in Indonesia, bioenergy saw the most progress this year as Indonesia escalated a policy mandating the use of biofuel-blended diesel. Otherwise, renewable energy development and investments are poised to fall behind annual targets. August marked Indonesia”s 11th month of mandating the use of 20 percent blended biodiesel…
Duty on CPO lowered to 37.5 percent from 40 percent Reuters/Mumbai, India India has cut import taxes on crude and refined palm oil from ASEAN countries after a request from suppliers, a government notification said on Tuesday. The reduction will lead to higher imports of palm oil by the world’s biggest edible oil buyer in…
JAKARTA – Indonesia’s Oil Palm Plantation Fund Management Agency, or BPDPKS, will resume collecting export levy of $50 per tn on crude palm oil and lower levy on downstream products as the country’s trade ministry today announced CPO reference price for January at $729.72 per tn, up from $650.18 per tn in December. “The CPO…
SIAK, Riau: Kimia Tirta Utama Junior High School is located amid 6,400ha of palm plantation owned by Indonesian palm oil producer PT Kimia Tirta Utama (KTU). With palm trees being a familiar plant in their surroundings, the 282 students are taught sustainable agriculture from an early age. They learn how to recycle waste and more…
Indonesia and India are working to find a new strategy to achieve a bilateral trade target of US$50 billion within the next five years, Foreign Minister Retno Marsudi said as she sought to strengthen Indonesia’s palm oil exports to India. Together with her Indian counterpart Subrahmanyam Jaishankar, Retno cochaired the sixth Joint Commission Meeting in…
The world’s largest producer of palm oil, is focusing big on exports to countries like India and China to overcome the likely setback it may face from the European Union, which may cut down on imports of palm oil products. MEDAN (INDONESIA): Indonesia, the world’s largest producer of palm oil, is focusing big on exports…
Jakarta – Indonesia will continue negotiations on an economic agreement with the European Union despite growing tension, after a leaked document revealed the EU intended to exclude palm oil-derived biofuels from trade between the two countries by 2021. Deputy foreign minister Mahendra Siregar said his ministry’s first priority is to make sure Indonesia’s biggest export…
Jakarta Palm oil has become one of the main engines of Indonesia’s economy. It directly and indirectly provides a livelihood for more than 16 million people. On top of that, palm oil is the second-biggest contributor to Indonesian exports, losing only to coal. Palm oil , contributed more than 9 percent to Indonesia”s total export…
Indonesia is set to strengthen its palm oil industry by encouraging stakeholders to comply with Indonesia Sustainable Palm Oil (ISPO) certification and strengthening the domestic market to anticipate lower demand from the European Union. The ISPO certification could help the country’s palm oil sector in combatting negative campaigns, Vice President Ma’ruf Amin said during his…
“The figure for vegetable oil demand increases from year to year, so the government shall have to think of how the palm business can be conducted along with the development programme for our people.” Nusa Dua, Bali (ANTARA) – Palm oil products are likely to be considered a solution to meet the current global demand…
Nusa Dua. Indonesia is taking steps to increase competitiveness and productivity in its palm oil industry, especially through boosting domestic consumption. Palm oil is the country’s largest export commodity, earning it more than Rp 27 trillion ($1.9 billion) in state revenue. Indonesia currently exports about 70 percent of its palm oil, also making it the…
“Indonesia is a vast market with more than 260 million people. We need to take this as leverage in establishing mutually beneficial economic cooperation at the bilateral, regional and global levels” Jakarta (ANTARA) – Economic diplomacy has become the priority in Indonesia’s foreign policy for the 2019-2024 period. To conduct economic diplomacy, the Ministry of…
Oil palm is the most productive vegetable oil crop, known for producing four to nine times the yield of other oilseed crops and being the cheapest at an average margin of 20 percent compared to the price of other oilseed crops — or US$200 per ton compared to $360 per ton for soybeans, the crop…
Jakarta. Indonesia’s crude palm oil production rose by 14 percent to 34.7 million metric tons in the first eight months of 2019, from the same period last year, while exports of the commodity increased by 3.8 percent to 22.7 million tons, according to data provided by an industry group. Domestic consumption of palm oil soared…
