BCN-17 Indonesia’s crude palm oil export edges down in H1

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ZCZC

BCN-17

INDONESIA-CRUDE-PALM-OIL

Indonesia’s crude palm oil export edges down in H1

JAKARTA, July 28, 2018 (BSS/Xinhua) – 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 here on Friday.

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.

BSS/XINHUA/HR/1118