GAPKI To Hold “17th Indonesian Palm Oil Conference and 2022 Price Outlook”

Press Release
Indonesian Palm Oil Association (IPOA)

“17th Indonesian Palm Oil Conference and 2022 Price Outlook”

The palm oil industry is enjoying a golden era of 2021 as the global price of crude palm oil (CPO) has reached the highest level during the history of global palm oil trading. During 2021, the average price of CPO has exceeded US$ 1,000 per metric ton, and even last October it reached the highest level at US$1,390 per metric ton. As the world’s largest producer of palm oil, the price increase has significantly increased the income of oil palm growers and smallholders and maintained Indonesia’s trade balance in positive performance amid the outbreak of Covid-19 pandemic which has affected almost all countries and slowed down the global economic growth.

What is the role of palm oil industry in saving Indonesian economy amid the Covid-19 pandemic? The Indonesian Palm Oil Association (GAPKI) will discuss it during the annual event of 17th Indonesian Palm Oil Conference and 2022 Price Outlook on 1 – 2 December 2021, which will be organized virtually with the theme “Role of Palm Oil Industry towards Sustained Economic Recovery.”

Currently, the palm oil price is still high as production in producing countries is declining, while the production of other vegetable oils is slowing down. Such market condition will certainly change if the production increases and demand decreases, especially if it sustains for a long time that will then press down the price due to abundant stock.

Such condition requires an appropriate strategy to maintain price stability and competitiveness. IPOC this year will comprehensively discuss the strategy of economic revovery through the perspective of palm oil industry.

Globally, governments of other countries are also implementing various strategies to revive their economies which have been impacted by the Covid-19 pandemic. For industries, governments’ policies will stand as a basis in determining their strategies. IPOC will especially invite this year a number of related ministers to inform about the government strategy in reviving the national economy. Besides, the conference speakers will also delve into global market opportunities in countries of main export destinations, supply and demand of global vegetable oils, global market trends, and projection of palm oil prices at the global market for next year.

President Joko Widodo (Jokowi) is scheduled to address the IPOC conference and then it will be followed by a keynote speech by economic coordinating minister who will officially open the IPOC 2021. To get insights of the Indonesian government’s strategy to revive the national economy, we dedicate  one special session for the related ministers, finance minister, trade minister, and health minister to give their special address.

It has been a traidition of IPOC to present speakers who are global experts of palm oil to reveal the price trend and global issues that influence the price.

Also attending as speakers include Dorab Mistry (Godrej International Ltd), James Fry (LMC International) and Thomas Mielke (Oil World).

IPOC is a medium for business players, stakeholders, owners, CEO and executives, and all decision makers at national and international levels and other stakeholders to jointly discuss strategic issues in the palm oil industries from upstream to downstream. IPOC is also a medium for business players to expand their business networks through sponshorship programs and virtual communication network provided by the organizing committee.

The public interest on the conference among Indonesian people and foreign people has been increasing every year. Last year, despite being organized virtually, the conference still managed to draw high interest as reflected by the participation of  1,100 participants from 30 countries. This year, also held virtually, we are optmistic that participants will be higher than last year’s. Currently, the participants have been already 900 people, indicating that public interest is still high.

Jakarta, 17 November 2021
Indonesian Palm Oil Association (IPOA)

For further information, please contact:

Mona Surya
IPOC Organizing Committee
IPOC Secretariat, GAPKI Sudirman Park Rukan Blok B No. 18
Jl. KH Mas Mansyur Kav 35 Jakarta Pusat Telp. 021-57943852, Fax. 021-57943853 / 72