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The Decreasing Currency of Rupiah Did not Increase Palm Oil Export Value from North Sumatera



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The Decreasing Currency of Rupiah Did not Increase Palm Oil Export Value from North Sumatera

InfoSAWIT, MEDAN – When rupiah got cheaper at Rp 15.000 per United States (US) dollars, it did not increase crude palm oil (CPO) export value from North Sumatera Province.

Academy and economist in Medan, Gunawan Benjamin thought, the decreasing value of rupiah did not have much change to increase the economy in the province because many mainstay commodities from North Sumatera are blocked by regulations that the government published to control palm cooking oil price.

He thought, North Sumatera lost the potential income which could be actually optimized when rupiah got cheaper. “What I mean is from the exports, namely CPO derivative products,” he said to InfoSAWIT, Monday (11/7/2022).

Gunawan told, if rupiah got cheaper, the calculation would be, the export products from North Sumatera would be more expensive namely when CPO is about decreasing, nearly RM 4.000 per ton. “What is happening is that the inflation gets increasing in this province because of the decreasing rupiah (towards US dollar),” he said.

For information, when the government banned CPO and its derivative product exports, now the government opens to export again. Unfortunately, the export permits face many conditions that the stakeholders should get and fulfilled nationally. Besides, what made the stakeholders get more pressure is kinds of citations, such as, levy, out fee, and also flush out which is US$ 200 per ton. (T5)

This article was published at sumatera.infosawit.com with the title © Rupiah Melemah, tapi Sumut Gagal Dapat Manfaat dari Ekspor CPO


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