JAKARTA – Amid the second wave of Covid-19 pandemic that has previously impacted almost all economic sectors, the palm oil and derivative products have played an important role in supporting the growth of Indonesian exports to Egypt.
Indonesian Ambassador to Egypt, Lutfi Rauf said that the exports of palm oil and derivative products to Egypt managed to survive amid the lingering impacts of Covid-19 pandemic.
“When many economic sectors are impacted by the Covid-19 pandemic, Indonesian palm oil products are consistent to contribute foreign exchange income, resulting in a surplus in the trade balance of Indonesia-Egypt,” said Lutfi Rauf during a meeting with Savco Vegetable Oils President Ammar Aboullaban in the 10th industrial zone of Ramadhan City in Sharqia province of Egypt.
The meeting was part of the serial activities of “Palm Oil Safari”, which were conducted by the Indonesian ambassador and trade attaché to promote the palm oil among the palm oil processing companies in Egypt.
“Our goal is to maintain the loyalty of palm oil consumers in Egypt and to increase Indonesian exports of palm oil to the country,” said Lutfi.
Meanwhile, Ammar Aboullaban noted that currently his company, which has involved in the palm oil processing business since 2013, produces more than 10 derivative products from palm oil, which include cooking oil, vegetable ghee and margarine.
“Savco is ready to import more palm oil from Indonesia. Savco needs 5,000 – 10,000 tons of palm oil from Indonesia,” he said.
Indonesian Trade Attache to Egypt, Irman Adi Purwanto Moefthi said that Indonesian palm oil has commanded a market share of 87.26 percent in the vegetable oil market of Egypt with a growth of 4.56 percent per year during the period of 2016-2020.
During January–March 2021, Indonesian palm oil exports to Egypt reached US$269 million or around Rp3.9 trillion, which was an increase of 78.86% if compared to that of the same period in 2020 at US$150 million or around Rp2.1 trillion. (*)
Source: wartaekonomi.co.id | Featured image via flwprotocol.org
