Demand for RI’s Palm Oil Increases in Egypt

Cairo – The demand for Indonesian palm oil products has been continually increasing in Egypt and neighboring countries, Indonesia’s Trade Attache in Cairo, lrman Adi Punrvanto Moefthi said recently.

Speaking to reporters after accompanying Indonesia’s Ambassador to Egypt, Lutfi Rauf, during a meeting with Gulf Arabian Co General Manager  Osama El Manharawy in Sharqia, Egypt, on Tuesday, he said that Gulf Arabian Co hopes that Indonesia can increase its supply of palm oil to 20,000 metric tons per month at the total value of US$22.5 million to meet the need of consumers in Egypt and neighboring countries. Previously, the company’s demand was recorded at 15,000 metric tons per month with a total value of US$16.88 million,” said Irman.

According to Irman, the demand increase was resulted from a variety of factors, which include the lingering impacts of Covid-19 pandemic and the lockdown policy which has reduced production in producing countries of palm oil and other vegetable oils.

“The high demand for palm oil products is also caused by the positive perspective of the public in Egypt. Besides more competitive price compared to other vegetable oils, the Indonesian palm oil has a high content of nutrition,” Irman said.

He added that the price of palm oil at the global market has been continually rising. It is driven by the rising demand from countries of export destinations, including Egypt.

“Gulf Arabian Co hopes the price increase of palm oil will not affect the supply from the producing country Indonesia. The company that has imported palm oil from Indonesia since 2010 has also opened an opportunity to increase production of palm oil with the scheme of investments in Indonesia,” he said.

Based on data from Statistics Indonesia, in July 2021 Indonesia’s trade performance of palm oil and derivative products amounted to US$542.52 million or an increase of 52.85 percent compared to that of the same period last year at US$356.89 million. During January – July 2021 the total volume of palm oil exports reached 539,000 metric tons. (*)

Source: Kontan.co.id

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