Indonesian Palm Oil Industry Downstream Outlook

Palm oil remains one of Indonesia’s mainstay products, with the industry’s value potentially reaching IDR1,688 trillion by 2028.

Redaksi

19 Feb 2024 - 18.03
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Indonesian Palm Oil Industry Downstream Outlook

Illustration - A worker was arranging palm oil fruit in one of the plantations, not long ago./Bisnis.

Bisnis, JAKARTA — The downstream of palm oil is threatened by the repercussions of anti-deforestation regulations from Europe or the EUDR. However, the processed palm oil industry’s value has the potential to reach $107.02 billion, or around IDR1,688 trillion, by 2028.

Based on calculations by the Indonesian Palm Oil Council (DMSI), the industry’s market value is projected to grow by 70 percent over the next five years, up from the 2023 performance of $62.9 billion.

According to the Acting Chairman of DMSI, Sahat Sinaga, there are still many areas needing improvement, from research on processing technology to non-traditional export market development.

“If we develop these product types, [the price can surge] from $800–$1,000 per tonne [CPO/CPKO] to $3,000–$4,000 per tonne. This is where we must focus our research on palm oil,” Sahat said during a workshop in Bandung earlier this month (2/1/2024).

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