The Indonesian Minister of Trade, Budi Santoso, officially inaugurated the export of oleochemical products, including split fatty acid and crude glycerine, to India. The shipment, valued at USD 420,000 (equivalent to IDR 6.75 billion), originates from PT VVF Indonesia, a subsidiary of the VVF Group. The ceremonial event took place in Deli Serdang, North Sumatra, on Tuesday, December 17, 2024. Budi emphasized the government’s commitment to fostering a sustainable palm oil industry through policies designed to balance domestic and international market demands. He highlighted the success of national downstream processing as evidence of effective collaboration between the government and private sector in supporting Indonesia’s economic growth.
Budi noted that the export of these oleochemical products underscores Indonesia’s ability to compete in global markets while contributing to the country’s foreign exchange reserves. Oleochemicals derived from palm oil are widely used in various industries, including food (cooking oil and margarine), cosmetics (moisturizers, lipsticks, and soaps), pharmaceuticals, energy (biodiesel), and chemicals (cleaners and solvents). The minister also commended PT VVF Indonesia for its efforts in boosting palm oil exports and encouraged other producers to innovate and expand their export activities. Budi reiterated the importance of continued investment in industrial and agricultural sectors, urging businesses to align with government policies, particularly in downstream processing, which is expected to empower Indonesia’s economy and foster strategic partnerships with SMEs. "We aim to create a conducive environment for investment, ensuring sustainable growth and global competitiveness for Indonesian industries," he concluded.
