Kuala Lumpur — Economic Coordinating Minister Airlangga Hartarto said that palm oil as strategic commodity has proven itself as an alternative solution to the problem of global food resilience.
“As a strategic commodity, the palm oil has proven itself as an alternative solution to the global food resilience amid the current geopolitical condition in Europe as a result of war between Russia and Ukraine,” Minister Airlangga said during the 11th ministerial meeting of the Council of Palm Oil Producing Countries (CPOPC) in Kuala Lumpur, Malaysia, on Thursday, 18 May 2023.
During the ministerial meeting, he also expressed his confidence that palm oil will remain important as raw material to produce biodiesel to ensure the global energy security in the long term.
Despite uncertain supply of global vegetable oils in 2023, palm oil still has a chance to grow due to its availability, versatility, and price competitiveness.
“We’re optimistic that palm oil production, demand, and price will grow positively in 2023 despite many challenges facing the industry. Certainly, we also see various challenges facing the products of CPOPC in Europe, India, and other foreign countries,” he said.
Palm oil in Europe
He expressed his appreciation to the steps taken by CPOPC, including the joint visits by Indonesia and Malaysia to European Union (EU) regarding the palm oil industry.
Minister Airlangga said that to watch out the latest development in EU, especially the European Union Deforestation Regulation (EUDR) which is potential to bring negative impact to the palm oil industry and exempt the smallholders from the supply chain, CPOPC will launch joint mission of producing countries to Brussels, Belgium on 30-31 May 2023.
During the joint mission, producing countries will meet the palm oil stakeholders and organizations of civil society in EU. All ministers under the CPOPC are optimistic that the joint mission to EU will bring positive impact to the palm oil industries.
During the meeting, Indonesia had also warmly welcomed Honduras as new member of CPOPC. Honduras is the third country to become a member of CPOPC after Indonesia and Malaysia.
In the near future, Papua New Guinea is expected to join CPOPC membership. The CPOPC ministerial meeting is also attended by representatives from Colombia, Ghana, and Papua New Guinea as observer countries and Nigeria as guest country.
The four countries supported the strategy and priority of CPOPC in developing the palm oil industry and in dealing with the global challenges, which include food security and renewable energy.
“Palm oil is not only important for member countries of CPOPC, but also for the whole world,” Airlangga concluded. (*)
Source: medcom.id
