JAKARTA – Palm oil industry players said that the spike of Covid-19 cases in India had not yet affected Indonesia’s palm oil exports to the country.
The Indonesian Palm Oil Association (Gapki) Chairman Joko Supriyono said that they kept monitoring the development of palm oil exports to India following the sharp increase of pandemic cases in the South East Asian country. “But so far, there has been no impact seen to the exports of Indonesian palm oil products to the country this month. There could be an impact in a short time. We’ll keep monitoring it,” Joko said on Wednesday, 28 April 2021.
Despite the Covid-19 spike, Joko noted that Indian market will stay the focus of attention as Indonesian market share of palm oil to the country reached 70% to 80%. “So, all industrial players are eagerly waiting for the latest development of the pandemic condition in India,” he said.
Meanwhile, the Indonesian Vegetable Oil Industries Association (GIMNI) Executive Director Sahat Sinaga said that he is optimistic the exports of palm oil products to India will not be impacted despite the spike of Covid-19 cases in the country, which had become a global concern. He said that it will not be affected because Malaysia’s production of palm oil had decreased due to its lower harvest and due to more competitive price of palm oil compared to other vegetable oils.
“We shouldn’t be worried as the price spread of CPO and the soft oil is almost US$350, and due to financial problem, India will purchase our palm oil products,” said Sahat.
GIMNI Chairman Bernard Riedo concurred with Sahat, saying that India will still buy Indonesian palm oil because the prices of other vegetable oils are high.
“Now, what is more important for India is the affordable oils as they are facing the pandemic condition. It is also the basic need of people there for their survival,” he said.
But despite the fact, he also underlined the need to continually monitor the Covid-19 condition in India. “We need to keep watching out the latest condition in the country and how they will survive the worsening pandemic,” he added. (*)
Source: KONTAN.CO.ID
