Palm oil set to be main drive for 2021

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Indonesia, Pakistan, and India must be ready to face the era after the vaccine roll-out because Covid-19 is here to stay.

Togar Sitanggang, Vice-Chairman of Gabungan Pengusaha Kelapa Sawit Indonesia (GAPKI) and one of the panellists of The Palm Oil Trade Fair and Seminar (POTS Digital) said palm oil will be the main drive for 2021.

Indonesia has produced 49 million metric tonnes of palm oil last year and is looking to use it internally and externally.

The bio-diesel fuel programme by Indonesia will be the key element for the country’s palm oil business. It will continue importing oil as agreed with the target markets.

On the other hand, Pakistan has had to deal with the  logistics issues to transport key materials. 

“This is a global challenge and countries around the globe are having to adapt especially in the first episode of the Covid-19 outbreak. There is no issue towards the ports and the railway system in Pakistan, but more on the road logistics,” said Rasheed Janmohammad, Chief Executive Officer (CEO) of Westbury Group.

He further said that both commodities and the services industry were affected as well. 

Meanwhile, Dorab Mistry, the Director of Godrej International Trading and Investments Pte Ltd. said India’s move to be self-sufficient will not affect the imports of key oil from Malaysia and Indonesia.

“India will not be like China in terms of being a self-sufficient country. India’s self-sufficient plan will be more focused on the manufacturing and services side. The country will look towards value-based products and will not drive the agriculture business anytime soon,” he said.

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