Indonesian palm oil exports to China drop by half in January: GAPKI

first_imgIndonesia’s palm oil exports to China have plummeted by half in volume amid global uncertainties, an industry source has said.The Indonesian Palm Oil Producers Association (GAPKI) said in a statement on Tuesday that China’s export volume fell by 381,000 tons or 57 percent. This contributed to the sharp drop in the country’s total palm oil exports, which declined by 35.6 percent to 2.39 million tons in January from 3.72 million tons in December 2019.”The drastic export decline in January could be because importing countries were still holding on to their stock while waiting for the Indonesia government to implement a 30 percent blended biodiesel [B30] program,” the association said in the statement. Topics : Should the decline continue, overall export performances could be dragged down in 2020 as palm oil has remained the country’s top export. The palm oil industry is one of Indonesia’s major foreign exchange earners, contributing 13.5 percent to total non-oil and gas exports worth US$22.3 billion, Finance Minister Sri Mulyani said on March 2.Read also: In Papua, forests offer more economic benefits than oil palm plantations, research findsA decline in palm oil exports to China will also hit the industry hard as one of the country’s main buyers of the commodity. In 2019, China imported 6 million tons of palm oil from Indonesia, representing 16.5 percent of overall palm oil exports during the year, GAPKI data showed.But China is not the only destination that saw a decline in palm oil exports in January. Palm oil exports to the European Union fell by 188,000 tons (30 percent), 141,000 tons (22 percent) for India and 129,000 tons for the United States (64 percent). Only Bangladesh saw a month-to-month increase by 52 percent to 40,000 tons in January.center_img The novel coronavirus, which emerged in China in late December 2019, could further lower the country’s crude palm oil (CPO) imports from Indonesia, as most of the country’s industries, including food and beverage producers, were closed for months.However, CPO CIF Rotterdam prices rose in January, as CPO prices increased to an average of US$830 per ton from an average of $787 tons in December last year. CPO production also increased to 3.48 million tons in January from 3.45 million tons in the previous month.Palm oil statistics 2019. (JP/Swi)”We hope that such good prices will motivate farmers and companies to take better care of their plantations in order to achieve higher productivity,” GAPKI wrote in the statement.Outside of CPO, palm oil kernel (PKO) and palm oil-based biodiesel exports also declined while palm oil oleochemicals exports rose by 22.9 percent, GAPKI data showed.Despite the export slowdown, domestic palm oil consumption increased slightly to 1.47 million tons in January from 1.45 million tons in December 2019.The increase is in line with President Joko “Jokowi” Widodo’s policy to increase the mandatory use of 20 percent blended biodiesel (B20) and B30, which was made in response to the EU’s palm oil restrictions.Read also: India allots import licenses for 1.1 million tons of refined palmolein from IndonesiaThe domestic market is expected to absorb 9 million tons of CPO a year once the B20 and B30 policies are both implemented.Jokowi had previously asked stakeholders to increase the mandatory use of CPO–based biodiesel from B20 to B30 by January and to 50 percent (B50) by the end of 2020.The association painted a bleak picture of the industry going forward. The unstable petroleum prices as a result of disagreements between Russia and the Organization of Petroleum Exporting Countries (OPEC) coupled with the COVID-19 pandemic will contribute to the global economic slowdown, pushing down demand for imported vegetable oils.It also expressed worries that vegetable oil prices would fall if the outbreak lasted until Idul Fitri. Experts have predicted that COVID-19 will peak in May or June. On top of that, industries will soon face the drought season, when forest and land fires are rampant.last_img read more

Guyanese swimmers to compete at VOS Invitational Meet in Suriname

first_imgGOODWILL Swim Meet silver medallist Phillip DeNobrega, Trumaine Cole, Leon Seaton and Nikita Peters are some of the medal prospects in the Guyana team of swimmers, who will depart tomorrow for Suriname ahead of their participation at the VOS Powerade Invitational Swim Meet from December 8 to 12.According to team coach Christopher McAdam, some of the other swimmers who are expected to do well include 8-year-old Ariel Rodrigues along with Antonio Rodrigues.Twenty-six swimmers are expected to compete against swimmers from Curacao, Aruba, French Guiana and host nation, Suriname. The team have been training twice daily, six days a week at the National Aquatic Centre.Sixteen-year-old DeNobrega, who clocked a number of personal best (PB) timings throughout the season, is hoping to continue on a high note as the season winds down to a close. DeNobrega will be participating in four events in the Boys’ 18 and over category, namely the 50m and 100m freestyle, the 100m IM and the 100m breaststroke.DeNobrega, who first began participating at this meet back in 2013, is feeling particularly good about his chances in the 100m breaststroke and 50m freestyle.“I’m feeling really good about it; I think I’ll bring home a medal or two. Because my times, in these events, compared to other swimmers in Suriname, in these races, are really close.”Cole, who will also be in the Boys’ 18 and over category, is also looking at his chances in the 100m breaststroke and 50m freestyle. These were the events he was paying keen attention to during training. In addition to those two events Cole will also be in the 50m backstroke and 100m butterfly, as well as in the relays.Meanwhile, 11-year-old Seaton will now have to show if he can withstand increased competition and repeat his last year’s performance where he claimed four gold medals and a silver, when Guyana returned home with a total of 15 medals.However, this year has seen an increase in competition from last year when only Guyana and Suriname competed. Seaton will be in the Boys’ 11-12 category, swimming in the 50 freestyle, 100m butterfly, 100m breaststroke and the 100m IM.Overall this year’s team consists a lot of experienced swimmers, while there are also a few new faces looking to capitalise on experience as they develop on their skills.There are Ariel Rodrigues and Sarah Ramsammy in the Girls’ 7-8; and Madison Chichester in the 9-10 category. In the 11-12 age group are Nekita Peters, Krystal Brown, and Guvita Ramlakhan, while Harshannie Kundun is the only 13-14 girl and Tiffany De Moura is the lone15-17 girl.Apart from DeNobrega, Cole and Seaton the Boys’ team includes Jeremy Sookram, Jeron Sookram and Micah Chichester (7-8) Stephen Ramkhelawan (9-10). In the 11-12 group Seaton is joined by Vidjaz Mohamed, Stephon Ramkhelawan and Moses Persaud. The 13-14 boys are Jonathan Sookram, George Telford, Nikhil Ramnarine and Garvin Gayadin.Team manager is Leon Seaton. Chaperons Bisham Ramlakhan and Persaud Rampersaud and chaperones Rhonda Seaton, Shannie Rodrigues and Anita are the other officials.last_img read more

County Under 21 football titles to be decided

first_imgMoyle Rovers and JK Bracken’s meet in the Under 21A football final.Throw-in is at 12 noon in Golden.The Under 21 B final gets underway at the same time in Templetuohy where Killenaule face Upperchurch Drombane. Meanwhile the Mid U21 Hurling games between Loughmore Castleiney & Thurles Sarsfields and Boherlahan v Moyne Gaels are both off due to unplayable pitches.last_img