Indonesia plans to become world’s palm oil price setter
The Ministry of Agriculture in Indonesia has decided to set a target to make the country into the world’s largest palm oil producer by 2025
Deputy Minister of Agriculture Sudaryono mentioned Indonesia’s target to set prices at the earliest. Furthermore, he urged farmers and palm oil entrepreneurs to view palm oil plantations in the country as high-priority agricultural areas that contribute to the national economy.
The Minister emphasised the availability of suitable technology to produce high quality seeds. Most importantly, the presence of B50 provides Indonesia the option to optimally absorb its palm oil outputs. To ensure a suitable contribution to the Indonesian economy, the government has also calculated the amount of palm oil that needs to be exported and allocated for domestic use.
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