The global palm oil sector is feeling the effects

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  • 09 Apr 2020
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Coronavirus May Hinder Sustainability Efforts in Palm Oil

The global palm oil sector is feeling the effects of the coronavirus pandemic, as demand drops across the world, trade is disrupted and production is hampered in Indonesia and Malaysia, the top producers of the vegetable oil. Although the short-term prospects of the sector are bad, experts suggest it is still too early to say whether the viral epidemic will hurt efforts to expand the sustainable palm oil market in the medium-to-long term. Indonesia, the world’s largest producer of palm oil, is seeing drastic falls in exports to its main markets. Exports to China plunged by as much as 57 percent in January, the Indonesian Palm Oil Producers Association (GAPKI) said in a statement. Exports to the European Union, India and the United States fell 30 percent, 22 percent and 64 percent, respectively, the industry grouping said.

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