JAKARTA – The Indonesian Palm Oil Association (GAPKI) Chairman Eddy Martono said Indonesia’s palm oil exports to Russia have been increasing during the last few years. Last year, Indonesia’s palm oil exports to Russia increased by 13% to 680 thousand tons in 2024. It is projected to reach one million tons in the near future.
“In 2024, our palm oil exports to Russia reached 680,000 tons. It was an increase of 13 percent if compared to our exports in 2023,” Eddy said during the Business Forum of Russia-Indonesia in Hotel Raffles, Jakarta on Monday (14/04/2025).
Based on the figures, Eddy projected that Indonesia’s palm oil exports to Russia will reach 1.0 million tons. “I’m optimistic we can realize it in the near future,” he said.
According to him, Indonesia’s palm oil export to Russia is still in the form of refined palm oil, which is a derivative product from purification process of Crude Palm Oil (CPO).
Eddy said that the main competitor of palm oil in Russia is sunflower. But despite the fact, Eddy said that palm oil is still primadonna in Russia, especially for food industries.
“There are palm oil products that cannot be replaced with other vegetable oils,” he said.
Eddy hopes the meeting with stakeholders from Russia can strengthen cooperation between Indonesia and Russia on palm oil trading. “Gapki also hopes Russia can function as export hub for neighbouring countries in Eurasian region, especially those not having palm oil such as Uzbekistan, Pakistan, and Tajikistan,” he said.
Indonesia and Russia organized the Roscongress International Bussiness Forum in Hotel Raffles, Jakarta, on Monday (14/04/2025), which was also attended by more than 30 Russian companies, including digital solutions producers, foods producers, special equipment producers, and other industries.
The Forum was organized by Roscongress Foundation under the Roscongress International and the Indonesian Chamber of Commerce and Industry (Kadin), and was co-sponsored by Russian Export Centre (REC). A number of speakers addressing the forum talked about economic cooperation between the two countries. (*)
