US-China Trade War Won`t Impact Palm Oil Export Volume
Indonesian Palm Oil Association (GAPKI) sees the trade war between United States and China will not affect palm oil export volume, but will impact its price. “We have not seen a massive impact from this trade war on palm oil exports but could have an impact on palm oil prices.
Indonesian Palm Oil Association (GAPKI) sees the trade war between United States and China will not affect palm oil export volume, but will impact its price.
“We have not seen a massive impact from this trade war on palm oil exports but could have an impact on palm oil prices. It is already seen in the price, as we can see soybean price has falling,” said GAPKI Vice Chairman III, Togar Sitanggang as quoted by Bisnis.com, Saturday (8/7/2018).
The US has imposed a series of tariffs on goods to China, prompting other countries to impose their own tariffs and raising tensions with other countries.
As he said, trade war and rupiah fluctuation against US dollar will not affect on palm oil exports volume. Falling exports volume is more due to import duty did by India.
“Shipments slightly reduced to India due to their import duty. Related to rupiah fluctuation has no effect on exports because raw materials are purchased with rupiah that correlates with US dollar currency,” said Togar. ***
