Indonesia seeks direct palm oil exports to boost returns
In Indonesia, Antara reported that Indonesia wants to export crude palm oil (CPO) directly to end buyers instead of routing shipments through neighboring countries, seeking higher returns, according to the country’s Food Coordinating Minister Zulkifli Hasan.
Indonesia was not maximizing returns from strategic commodities, including palm oil, nickel and tin, because some exports passed through neighboring countries, he said.
“We want a developed, sovereign country. I sometimes get frustrated. Indonesia is the biggest producer of CPO, nickel and tin, yet its exports go through neighboring countries,” he added.
He cited a price gap in palm oil, saying CPO was priced at Rp27,000 ($1.49), while Indonesia sold it to neighboring countries for Rp15,000 ($0.83).
Category: Food & Agriculture
