JAKARTA – Economic Coordinating Minister Airlangga Hartarto said that Indonesia and Malaysia have strengthened their bilateral cooperation to boost the palm oil industries.
Minister Airlangga made the statement during his meeting with Malaysia’s Plantations and Commodities Minister Zuraida Binti Kamaruddin in Jakarta on Sunday, 24 October 2021. Their meeting was aimed to discuss about efforts to strengthen the bilateral relations of the two ASEAN countries in promoting the palm oil products.
He said the two countries’ bilateral relations are, among others, reflected in their trading volume that amounted to US$15.03 million in 2020 and US$13.43 million during the period of January – October 2021.
“There has been a positive trend in palm oil demand and rising prices at the global market. We need to underline the importance of CPOPC member countries to intensify efforts of ensuring the continuity of good price for palm oil,” he noted in a press statement issued in Jakarta on Monday.
He said that during the 8th ministerial meeting of the Council of Palm Oil Producing Countries (CPOPC), which was held virtually on 26 February 2021, Indonesia was agreed to assume the presidency of CPOPC for 2021.
According to Airlangga, palm oil producing countries should anticipate the possibility of rising prices of crude palm oil (CPO) through the increase of domestic consumption as a means of managing demand. Sustaining the palm oil price can be realized by implementing the mandatory program of biodiesel 30 percent (B30) production in Indonesia and biodiesel 20 percent (B20) in Malaysia. The strategy is needed to create a balance between the palm oil supply and demand, which is expected to maintain the CPO prices at the global market.
Airlangga pointed out that for Indonesia, Malaysia is one of main economic partners, especially in terms of investments and trading. “During the first semester 2021, foreign investments from Malaysia reached US$706.8 million in a total of 1,324 projects.”
“Regarding the rampant negative campaigns against the palm oil products, Indonesia and Malaysia as the world’s largest producers of palm oil need to launch positive campaigns to promote palm oil products effectively and efficiently at the global market,” he said, adding that the campaigns will also cover the role of vegetable oils in achieving the the United Nations’ (UN) Sustainable Development Goals (SDGs).
He said that Indonesia appreciates the progress of the Countering Anti Palm Oil Campaign undertaken by CPOPC based on the agreement of member countries, especially Indonesia and Malaysia. The campaign includes the advocacy in the European Union (EU), social media campaigns, and strategy of communication and promotion in palm oil consuming countries.
Indonesia also appreciates the establishment of CPOPC Scientific Committee, which will focus on designing and assessing right proposals on research and development activities. The results of researches are expected to enrich knowledge on the palm oil industries.
He said that Indonesia and Malaysia should further strengthen bilateral cooperation on palm oil. “Both countries should also continue improving the CPOPC as the only organization of palm oil commodity in the world. (*)
Source: antaranews.com | Featured image via astra-agro.co.id
