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Indonesia signs CPO export contract with Egypt

15 March 2019 01:58 PM  Company: []
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JAKARTA. The Ministry of Trade (Kemendag) has facilitated the export contract of Crude Palm Oil (CPO) from Indonesia with a total value of US$ 130 million in 2019.

Arlinda, Director General of National Export Development, said that the trade contract was made by PT Perkebunan Nusantara (Persero), PTPN III,  PT Chita Agri Indonesia, and Oleo Misr. PTPN III will supply CPO as much as 10,000-16,000 metric tons (MT) per month with a total value of US $ 100 million, while Chita Agri Indonesia will supply 4,000-5000 MT per month with a total value of US $ 30 million.

"Indonesia's palm oil exports to Egypt tend to increase from year to year," Arlinda said on Thursday (14/3) through an official statement.

In 2018, the value of CPO exports from Indonesia to Egypt reached US$ 560 million, with a volume of 919,460 MT. Arlinda admitted that Indonesia currently controls 97% of the palm oil export market in Egypt. "We believe that the exports volume of palm oil can still be increased," Arlinda explained. (KR/AR)