Indonesia’s trade balance experienced an unanticipated bump in October as demand from the country’s largest Asian trading partners increased and imports of capital goods fell. The trade surplus rose to USD5.67 billion in October, according to Statistics Indonesia (BPS), reversing a drop in the previous month that brought the balance to USD4.99 billion. The export…
Earnings of plantation companies have likely peaked in the second quarter of 2022 (2Q22) as the average crude palm oil (CPO) price of RM4,116 per tonne in July-August is more than one-third lower compared with 2Q22. CGS-CIMB Research said CPO prices could weaken due to higher Indonesian palm oil exports following the recent extension of…
Indonesia, the world’s biggest palm oil producer and exporter, will push ahead with its ambitious biodiesel program even as prices of the tropical oil have soared, which could increase the costs of producing biofuel. The B30 program, which stipulates that fossil fuels must be blended with 30% palm oil, is still running as planned, said…
Even though the prices of Malaysian crude palm oil shot up sharply, the price of the Indian product did not follow the same trend in 2021 due to the government’s intervention. Widely used in edible oil blending, cosmetics, processed food products, and even in biofuel, palm oil’s prices on Bursa Malaysia Derivatives is considered to…
JAKARTA, Dec 23 (Reuters) – Malaysian palm oil futures extended gains to a third session on Thursday over expectations of lower December output, as torrential rains that began last week caused floods in eight states in Malaysia. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose 1.0.8% to 4,496 ringgit ($1,069.71) by midday…
Short energy supply and the approaching winter in Europe are spurring demand for fuel, much to the benefit of Indonesian crude palm oil (CPO) exporters. The head of the Finance Ministry’s Fiscal Policy Agency (BKF), Febrio Kacaribu, said the European energy crisis was expected to have a positive short-term impact on Indonesia, as it boosted…
JAKARTA, Sept 15 (Reuters) – Indonesia’s exports hit a record high of $21.42 billion in August, boosted by surging commodity shipments, helping Southeast Asia’s biggest economy post its largest ever monthly trade surplus, official data showed. Robust exports helped Indonesia pull out of recession in the second quarter, but analysts say its recovery may be…
Vitamin E extracted from palm oil helps in boosting the immune response of the body, suggest the findings of a study conducted on mice liver cells. Palm oil contains abundant quantities of vitamin E compounds, which include tocopherols and tocotrienols. These compounds have antioxidant effects, which protect cells from damage from toxic chemicals produced by…
JAKARTA, July 23 (Reuters) – Indonesian state oil company PT Pertamina is set to test the production of jet fuel made up of 3% palm oil by the end of the year, Chief Executive Nicke Widyawati said on Thursday. The comments come a week after the company announced its first batch of biodiesel using feedstock…
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…
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…
