Gapki To Hold 17th IPOC, Pushing For Economic Recovery

JAKARTA – The Indonesian Palm Oil Association (GAPKI) will hold the 17th Indonesian Palm Oil Conference (IPOC) and 2022 Price Outlook virtually on 1 – 2 December 2021.

The 17th IPOC, with the theme “Role of Palm Oil Industry towards Sustained Economic Recovery”, will discuss the role of palm oil industries in saving Indonesian economy amid the outbreak of Covid-19 pandemic.

GAPKI Chairman Joko Supriyono said that there are two issues that will be discussed in the conference. First, the role of palm oil industry in reviving Indonesian economy and second, the increase of palm oil price due to the decline of production in producing coutries.

“This will be an important conference as we’re witnessing a very high price of palm oil and cooking oil. Until when?. This conference will also discuss about how Indonesia should take opportunities from the palm oil experts, economy and economic recovery in other countries,” he said during a press conference on the 17th IPOC on Wednesday, 17 November 2021.

He said that this year IPOC will specially invite several related ministers to inform about the government strategy in reviving the national economy. Besides, the conference will also discuss about the global market opportunities in several countries of main export destinations, supply and demand of vegetable oils, global market trend, and projection of palm oil price for next year.

President Joko Widodo (Jokowi) is scheduled to address the conference, which will be then followed with a keynote speech by Economic Coordinating Minister Airlangga Hartarto, who will officially open the 17th IPOC 2021.

IPOC Organizing Committee Chairperson Mona Surya said that as the world’s largest producer of palm oil, the increase of palm oil price has brought positive impact to growers and smallholders and maintain the trade balance of Indonesia at positive performance amid the Covid-19 pandemic.

During 2021, the average price of crude palm oil (CPO) has been more than US$1,000 per metric ton. Even it reached the highest level at US$1,390 per metric ton in October 2021.

She said that as a medium of discussions for business players, stakeholders, CEO and business executives, and decision makers at national and international level, the conference will also feature expert speakers, including Dorab Mistry of Godrej International Ltd, James Fry of  LMC International and Thomas Mielke of the Oil World. (*)