Palm Oil Companies Need to Make Market Expansion Their Top Priority

NUSA DUA— Deputy Foreign Affairs Minister Mahendra Siregar urged palm oil businesses to fight negative perceptions against palm oil while at the same time keep seeking additional market. Palm oil businesses are suggested to expand their market globally or locally.

Mahendra’s remarks came at the 5th Indonesian Palm Oil Conference (IPOC) and 2020 Price Outlook in Nusa Dua, Bali, Friday (1/11/2019). “We need to respond negative narration against palm oil from the European countries. However, we also need to intensify and expand palm oil market both globally and locally,” Mahendra said.

Mahendra predicted that the biggest Indonesian palm oil market in the future is Indonesia itself followed by India as the result of increasing domestic demand. “In the next ten years, most of palm oil products will be absorbed in domestic market.”

Apart from increasing domestic palm oil consumption, Mahendra also suggested to penetrate traditional market. Countries in South Asia such as India, Pakistan, and Bangladesh will increase their import amid increasing demand. It is in line with the prediction that developing countries will contribute more to the global economic growth in the next 10 years. ***

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