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Oleochemical Exports from Indonesia Could be Reaching US$ 54 Billion in 2030

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Oleochemical Exports from Indonesia Could be Reaching US$ 54 Billion in 2030

InfoSAWIT, BANDUNG – Asosiasi Produsen Oleochemical Indonesia (Apolin) projected that oleochemical product exports from Indonesia could be reaching US$ 54 billion in 2030. It is hoped to get the projection, should be developed by having palm oil downstream industries in Indonesia.

General Secretary of Apolin, Rapolo Hutabarat told that the increasing oleochemical exports would happen for the increasing demands from many industries, for instance, cosmetic, food, and also pharmacy.

He thought, the 2030 projection exports could be reaching USD 5,4 billion within annual progress about 6 percent. But Hutabarat told, the previous year oleochemical exports decreased because many commodities in the world decreased up to USD 3,5 billion with the volume reaching about 4,2 million tons.

Hutabarat continued, the biggest oleochemical markets are in Asia Pacific that reached USD16 billion while the rests are in European Union and America.

The main products are fatty acid, fatty alcohol, and others. “Indonesia should explore the countries in Africa knowing that it has big population but low gross domestic products,” he said when being a speaker in Workshop Jurnalis Industri Hilir Sawit that InfoSAWIT attended, Thursday (1/2/2024) in Bandung.

Hutabarat continued palm oil downstream industries face some challenges, including the lack of operation to some products, such as, tocopherol and beta carotene.

Though the two products would have big markets that reached up to about USD 1,3 billion and USD 4,7 billion, there is no oleochemical producer in Indonesia that produce the two. He emphasized Indonesia should take advantage on its natural resources by fulfilling the emptiness particularly by involving Enterprises in pharmacy sectors. (T2)