Indonesia sets eyes on Russian, European CPO markets

The Indonesian Oil Palm Business Association (Gapki) has said the countrys crude palm oil (CPO) and its derivatives can penetrate non-traditional markets such as Russia and other regions in the eastern Europe.

Gapki Treasurer Lakshmi Sidarta noted in a written statement here on Wednesday that up by the end of 2016, Indonesias CPO exports to Russia were predicted to reach 700 thousand tons.

“If we seriously exploit the market, we can export more than one million tons. And these are exports to Russia alone, excluding other countries in eastern Europe,” she added.

Besides, demand for Indonesian CPO could come from non-traditional markets. Besides traditional markets such as India, China and European Union, Indonesia is yet to fully exploit other markets such as Russia and many nations of Eastern Europe.

Lakshmi, together with a number of Gapki executives and representatives of the government, visited Moscow in the middle of 2016.

At a meeting with Russian business and government officials, they discussed various business opportunities, including ways to open the wider Russian market for Indonesian CPO and processed palm oil.

In 2012, Indonesias CPO exports to Russia were recorded at 356,000 tons. These increased to 570,000 tons in 2014, and then further to 657,000 tons in 2015. In 2016, the figure is expected to reach 700,000 tons.

“If we continue to promote and introduce the Indonesian CPO to that country, Indonesia could increase its exports to over one million tons,” she underlined.

Source: Antara News