179 Thousand Tons of Palm Oil Got Export Approval in the Early of June

179 Thousand Tons of Palm Oil Got Export Approval in the Early of June

InfoSAWIT, JAKARTA – The Government of Indonesia published Export Approval to nearly 179 thousand tons of crude palm oil and its derivative products to 18 companies (Thursday) (2/6/2022).

160 export permits were delivered to 18 companies, as General Director in duty of Foreign Trade, Ministry of Trade, Veri Anggrijono mentioned. Of 179.464 tons Export Approval, 87.109 tons of the numbers would be refined, bleached and deodorized (RBD) palm oil; 90.255 tons RBD olein, which is the refining of crude palm oil, and the rests would be palm cooking oil.

Very mentioned, the companies that got Export Approval should complete their obligation to supply domestic needs based on domestic market obligation (DMP) and domestic price obligation (DPO) before President Joko Widodo banned CPO exports and its derivative export on 28 April 2022.

"Per Thursday, we published Export Approval for 18 companies. We published it for the companies that used to do the business and obeyed DMO and DPO,” he said as quoted from BenarNews.

Prior, President Joko Widodo banned CPO and its derivative products export by the late of April 2022 because palm cooking oil in this country was difficult to get for months.

Russia’s invasion to Ukraine also blocks sunflower oil exports to many countries and this makes the supply worse in the globe. Palm oil is used in many products, such as, foods, soap, and fuel.

CPO and its derivative export ban did press the smallholders’ fresh fruit bunch (FFB) production in Indonesia and would increase food price when the world is facing high inflation.

The government of Indonesia revoked the export ban per 23 May 2022 as the domestic needs have been fulfilled, from 64,5 thousand tons per March 2022 to be 211 thousand tons per May. The government of Indonesia targeted to export 1 million tons of palm oil after revoking the export ban. (T2)