Palm oil exports hit 2.92 million tons in July, 15.87 percent higher than the previous month as China jacked up demand during the month, according to the latest Indonesian Palm Oil Producers Association (Gapki) data.
Indonesia’s government has been criticized as insensitive for launching a social media campaign to promote palm oil at a time when forest fires – often blamed on clearing land for plantations – are raging on Sumatra and Borneo islands, sending a pall of smoke over neighboring countries.
U.S. President Donald Trump on Monday downplayed the impact of a spike in oil prices in the wake of the attacks on Saudi oil plants, saying prices had not risen much and that the United States and other countries could offset the increase by releasing more supply.
The Trade Ministry is confident of a boost in the exports of Indonesia's crude palm oil (CPO) and derivative products to India after the latter equalizes duties on the import of the commodities from Indonesia and Malaysia.
FGV Holdings Bhd has not received any report of its subsidiaries involvement in open burning in Indonesia that has contributed to the haze affecting the region, its group chief executive officer Datuk Haris Fadzilah Hassan said.