Indonesia Cuts 2020 Palm Oil Export Outlook by 12%

Date: 2020.05.27

Indonesia is likely to export 12% less palm oil in 2020 than previously expected, an official at the country's Estate Crop Fund (BPDP), a government agency in charge of collecting and managing palm oil export levies said on Wednesday.

"Right now, it is rather difficult to export as some countries are in lockdown," Fajar Wahyudi, head of the fund disbursement division at BPDP told a virtual briefing.

"We project that there will be a decline in palm oil exports by more or less than 12% (than previously expected)," he said.

He did not say what BPDP's original exports forecast for 2020 was.

"Hence, the B30 program is an excellent alternative in absorbing our palm oil. This way, crude palm oil prices and welfare of the farmers will be maintained," Wahyudi added.

Read more here.

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