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April 14, 2025 | 08:44 pm
TEMPO.CO, Jakarta - The chair of the Indonesian Palm Oil Association, IPOA—or otherwise known as Gapki in Indonesia—Eddy Martono, disclosed that the value of Indonesian palm oil exports to Russia has reached 680 thousand tons in 2024.
"In 2024, the export of palm oil to Russia added up to 680,000 tons, up by around 13 percent compared to 2023," said Eddy when met at the Russia-Indonesia Business Forum at the Raffles Hotel in Jakarta on Monday, April 14, 2025.
Based on these figures, Eddy targeted palm oil exports to Russia to achieve a 1 million-ton mark in the near future.
Eddy also revealed that the palm oil exported to Russia is still in the form of refined palm oil, a derivative product of palm oil produced from the refining process of CPO (Crude Palm Oil).
The Gapki chair said sunflower oil has become a competitor to palm oil in Russia, albeit it has yet to surpass palm oil as a favorite, especially in the food industry.
"Indeed, some palm products cannot be replaced by other vegetable oils," he said.
Eddy hopes that the meeting with Russian stakeholders can strengthen the trade ties between Indonesia and Russia in the palm oil sector.
"Gapki also hopes that Russia can act as an export hub to neighboring countries, especially those lacking in palm oil, such as Uzbekistan, Pakistan, and Tajikistan," he said.
The governments of Indonesia and Russia hosted the Roscongress International Business Forum at the Raffles Hotel in Jakarta on Monday, April 14, 2025. Several speakers were scheduled to discuss the economic cooperation between the two countries. The event also involved the Russian Export Center (REC).
This forum will also bring together more than 30 Russian companies, including digital solution providers, food product manufacturers, specialized equipment, and other industries. The event is organized by the Roscongress Foundation under the Roscongress International brand and the Indonesian Chamber of Commerce and Industry (Kadin).
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