India to buy Palm oil Where cpo from Indonesia up to 2.6 million tons or a value of 3.16 billion US dollars, equivalent to 46.8 trillion rupees (assuming an exchange rate of 14,837 rupees per US dollar) during a trade mission led by the Ministry of Commerce in New Delhi.
Commerce Minister Zulkifli Hasan said that during the trade mission, his party managed to register an export potential of $3.2 billion or 47.4 trillion rupees.
He added that of the total export potential, palm oil products received the most commitments.
“Total commitments under the agreement are 2.6 million tonnes or $3.16 billion,” he said in an official statement on Tuesday (8/23).
India is the second largest destination for HPB exports after China, with an export value of $3.4 billion, accounting for 25% of Indonesia’s total exports to India in 2021 as of yesterday.
In this trade mission, Zulkifli Hasan brought 10 Indonesian trade actors and exporters, as well as associations.
They managed to sign 22 MoUs under the trade mission. The MoU was concluded for premium domestic products such as palm oil (CPO), olein, coal, furniture, plastic tools, as well as pulp and paper.
“The Indonesian Trade Mission delegation to India has managed to register an export potential of 3.2 billion dollars. This export potential has been achieved thanks to the signing of 22 cooperation agreements (MoU) between commercial actors of the two countries,” he said.
Based on data from the Central Statistical Agency (BPS) processed by the Ministry of Commerce, the total trade between Indonesia and India was recorded at US$16.67 billion in January-June 2022.
Indonesia’s total non-oil and gas exports to India during this period were recorded at $15.3 billion, an increase of 75% over the same period of the previous year, which was only $8.7 billion.
Meanwhile, in 2021, the trade value between Indonesia and India will reach US$19.8 billion with a surplus for Indonesia of US$6.3 billion. Indonesia’s non-oil and gas exports to India in 2021 will be recorded at $13.11 billion.
[Gambas:Video CNN] (ldy/agt)
[Gambas:Video CNN]
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