Jakarta: Coordinating Minister for Economic Affairs, Airlangga Hartarto, has said that Indonesia is dominating global palm oil exports, accounting for 54 percent of world palm oil supplies.
In 2023, Indonesia’s total palm oil production stood at 56 million tons with export realization reaching 26.33 million tons, he informed.
“Indonesia is the world’s largest palm oil producer with (production pegged at) 56 million tons. Our exports amount to 26.33 million tons and make up 54 percent of the world market,” Hartarto said at the National Coordination Meeting for the National Action Plan for Sustainable Palm Oil Plantations 2019–2024 on Thursday.
According to him, palm oil is a strategic commodity for Indonesia. In 2023, the value of palm oil exports reached Rp28.45 billion (US$1.7 million), or close to 12 percent of non-oil and gas exports.
In addition, the palm oil industry contributes to the labor sector by directly and indirectly employing 16.2 million people, he highlighted.
“Palm oil is also an economic driver in palm oil producing areas and brought development in rural areas and reduces poverty levels,” Hartarto added.
