When it comes to palm oil, the first country that strikes in our mind in Indonesia. This is because Indonesia is the largest exporter of palm oil (immediately followed by Malaysia) along with other products like uncoated paper, soap, coconut oil, etc. Palm oil is the most common among palm products.
Top Exporters & Importers of Palm Oil
When it comes to Palm Oil, the major exporters are Indonesia and Malaysia. Palm oil is traded in two ways, either in the form of crude palm oil or RBD palm oil. RBD refers to Refined, Bleached, and Dried, which are the process involved to treat palm oil. Global palm oil traders primarily target Malaysia and Indonesia as there is huge crude palm oil manufacturers. The refining will be done on the end-user side depending on the specification of the palm oil. Some palm oil suppliers in Malaysia and Indonesia even provide refined palm oil which undergoes the RBD process.
Palm oil price forecast for 2015 Production is estimated to reach 31 million tons this year, according to Indonesian Palm Oil Board (DMSI). Amid the 2000s commodities boom, Indonesia’s palm oil production growth rate averaged 10 percent per year. In recent years, however, growth is gradual, amid weak global economic conditions (resulting in weak CPO demand and declining CPO prices), limited palm oil plantation expansion due to the government’s primary forest moratorium (2011-2015) meaning a temporary stop to the granting of new permits to clear rain forests and peatlands, and weather conditions. This has lead to a decrease in palm oil prices in Indonesia.
Palm oil derivatives: There are various products that are derived from palm oil which we use indirectly in many other ways which explain the widespread usage of this in various countries. Refined palm oil manufacturer has a widespread market for their product as it contains various sub-products that serve a wide range of applications as shown below.
Sustainable Palm Oil
The Roundtable on Sustainable Palm Oil (RSPO) was created in 2004 following concerns raised by non-governmental organizations about environmental impacts related to palm oil production. The organization has established international standards for sustainable palm oil production. Products containing Certified Sustainable Palm Oil (CSPO) can carry the RSPO trademark. Members of the RSPO include palm oil producers, environmental groups, and manufacturers who use palm oil in their products. Palm oil manufacturers in Indonesia supportCSPO is now a trademark for palm oil suppliers in Indonesia.
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