How much money does palm oil make in Indonesia?

How much palm oil does Indonesia produce a year?

Indonesia is the world’s top producer and exporter of palm oil. In 2020, its production of this commodity amounted to around 48.3 million metric tons. The production volume in 2021 was expected to remain flat, due to low fertilizer usage and dry weather.

Where does Indonesia export its palm oil?

The main export market for Indonesian CPO was India, which made up more than 60 percent of the total CPO exports in 2018. India was in turn the. However, in 2019, India introduced higher import duties on palm oil, leading to a decline in demand from this market.

How important is palm oil to Indonesian economy?

As the biggest agricultural export, palm oil is a major contributor to the Indonesian economy and is a key component in the nation’s strategic plan for sustained economic growth and rural development.

What is the Indonesian government doing about palm oil?

In 2019, Indonesian President Joko Widodo issued a separate permanent moratorium on new forest clearance for activities such as palm plantations or logging, covering about 66 million hectares (163 million acres) of primary forest and peatland.

Which country is the largest consumer of palm oil?

The largest users of palm oil are India (9.4 million tonnes) and Indonesia (6 million tonnes) – countries in which palm oil is traditionally used for cooking. The EU is the third-largest consumer of palm oil.

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What is palm oil price?

Palm Oil Price Live

Last Price Change Vol
5248 21.00 1275
4985 19.00 12776
4786 20.00 21041
4610 22.00 6356

Who owns palm oil plantations in Indonesia?

Asian Agri is one of the leading national private companies in Indonesia that produces crude palm oil through plantations that are managed sustainably.

How many palm oil workers are there?

Oil (Palm)

The palm oil industry is labor-intensive and employs between 3.7 million and 8 million workers.