Trade Minister Zulkifli Hasan said India is one of Indonesia's main export destinations for palm oil (CPO). For this reason, he invites Indonesian CPO exporters to prepare and anticipate a surge demand in India. This was stated by Zulkifli Hasan at the Indonesia-India Business Engagement Roundtable which was held yesterday in New Delhi, India. The event is part of a series of activities of the Ministry of Commerce's trade mission to India. The trade mission activity was attended by 10 Indonesian companies engaged in the CPO sector. "Apart from being a strategic trading partner, India is also the largest consumer of CPO supplied by Indonesia and to anticipate a potential spike in demand ahead of Deepavali," said Zulkifli in a written statement on Tuesday, August 23, 2022. According to Zulkifli, CPO has an important contribution to the Indonesian economy, especially in providing employment opportunities. In addition, it also plays a role in reducing poverty for 16 million farmers and workers in the palm oil sector. CPO also plays an important role in several industrial sectors such as cosmetics, household needs, food and beverages. "Indonesia and India must always work together, and build trust in trade and investment to develop the CPO industry and its derivative products," said Zulhas. He wants Indonesian CPO products to be guaranteed sustainability and known to be safe for health. The Ministry of Trade noted that in 2021 the value non-oil and gas trade between the two countries reached US$ 19.8 billion, up 42.7% compared to the previous year. During this period, the market share of Indonesia's main commodity exports to this country for coal reached 30% with a value of US$ 4 billion, followed by oil. palm oil 13% (US$ 3.3 billion), copper and iron alloys 4% (US$ 940 million), fatty acids 2% (US$ 308 million), and natural rubber 2% (US$ 286 million). Previously, Zulkifli held a bilateral meeting with India's Minister of Trade and Industry Piyush Goyal. The meeting discussed various efforts to strengthen bilateral relations. Zulkifli also met with representatives of the Indian Association of Entrepreneurs, discussing business cooperation in developing trade and investment between the two countries. The cooperation discussed included the infrastructure, pharmaceutical, automotive, and port sectors. Indian business actors, he said, asked Indonesia to be able to increase its cooperation, especially ahead of the handover of the G20 chairmanship from Indonesia to India.
More specific cooperation is also offered by Indian CPO businesses and producers who are members of the Solvent Extractor Association and India's Vegetable Oils Producer Association. Indonesia is also offered to promote the use of palm oil as a healthy and safe vegetable oil. This is done to deal with a negative campaign against the use of CPO which is considered to be discrediting products made from palm oil.
Wednesday, 24 August 2022 10:54
Ahead of Deepavali, Zulkifli Hasan Asks Entrepreneurs to Boost CPO Exports to India
