NUSA DUA – Despite facing tough challenges in the future, the palm oil industry players should keep being optimistic as the future holds many new opportunities.

The Indonesian Palm Oil Association (GAPKI) Chairman Joko Supriyono made the statement when addressing the opening ceremony of the 18th Indonesian Palm Oil Conference and 2023 Price Outlook in Bali International Convention Center (BICC) on Thursday, 3 November 2022.

“After two years of being hit by Covid-19 pandemic, now the palm oil industry is facing a very tough challenge due to the current condition of the global economy,” said Joko Supriyono.

After the pandemic, new problems, such as Russia – Ukraine war that has resulted in global food and energy crisis, and  prediction of global recession will be still haunting the palm oil producing countries.

But despite the gloomy picture, the emerging problems can provide an opportunity for the palm oil industry. It is because the current condition created a bullish market for the CPO and can be very profitable at the global market.

“This is an opportunity for Indonesia to play an important role in directing the industry as it will always affect the way the industry will grow,” said Joko Supriyono.

Joko hopes that in efforts of preventing the recession, the Indonesian government should push up the commodities like palm oil to grow stronger. “This commodity (palm oil) has been proven to be resistant to the recession,” he asserted.

Meanwhile, IPOC Chairperson Mona Surya stated that this year IPOC, the largest international event of palm oil in the world that combines convention and exhibition, is being attended by 1,462 participants from 21 countries.

According to Mona, the fact of many participants has indicated that IPOC is a very important international event for the  global players of palm oil industry. (*)

Source: Sawitindonesia.com