Indonesia able to supply 8 tonnes of palm oil to Europe
Indonesia is able to supply up to eight million tonnes of sustainable palm oil to the European market to meet demand in the region estimated to reach six million tonnes by 2020.
Jakarta (VNA) - Indonesia is ableto supply up to eight million tonnes of sustainable palm oil to the Europeanmarket to meet demand in the region estimated to reach six million tonnes by2020, said Secretary General of Indonesia Palm Oil Association (GAPKI), TogarSitanggang.
Indonesia was able to meet demand of theEuropean market upon condition that EU countries could accept IndonesianSustainable Palm Oil certification (ISPO), a compulsory standard imposed by theIndonesian government, he said.
The EU is currently the second biggest palm oilmarket after India. Based on GAPKI data of 2016, the country's palm oil exportto the EU reached 6.6 million tonnes.
The world's biggest palm oil market is Indiareaching 10.25 million tonnes while China is the third biggest at 5.15 milliontonnes.
Indonesia remains the world's large palm oilproducer with its production last year reaching 33.4 million tonnes, Sitanggangsaid.
Currently, the global palm oil market is worthat least 40 billion USD. However, deforestation is blamed on oil palmplantations.
The Government of Indonesia has imposed amoratorium of palm expansion for the past five years.
In the first half of this year, Indonesiashipped 2.7 million tonnes of palm oil to the EU, up 40 percent year on year.
The country has also signed an agreement withRussia-based ROSTEC Group on goods exchange, including palm oil. - VNA
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Illustrative image (Source: AFP/Getty Images) 
