Indonesia’s crude palm oil export edges down in H1
Shipment of Indonesia’s crude palm oil and its derivative products offshore drifted down in the first half of this year as demand dropped amid import tariffs, the industry association said.
Data from the country’s palm oil grower association showed that the cumulative exports of the commodity by June edged off about 2 percent to 15.30 million tons.
The downshift on the country’s crude palm oil export was largely attributed to the decline of shipment to India and European Union, said Mukti Sardjono, executive director of the association.
The imposition of import tariff by India, and campaign on deforestation issues and scraping of policy in usage of food-based biofuel by the European Union have nudged and hemmed in the shipment of the crude palm oil and its derivative products to the nations, he said.
Export to China, the United States, Pakistan, the Middle East and Bangladesh increased, Sardjono said.
Indonesia is the world’s largest producer and exporter of crude palm oil.