JAKARTA - The Indonesian Palm Oil Entrepreneurs Association (Gapki) revealed that the prospect of palm oil is still good in the midst of the 2024 Presidential Election (US).
"The prospects are still good, we see that the United States continues to increase demand for palm oil, finally it has even approached 2 million tons," said Gapki General Chair Eddy Martono as quoted by ANTARA, Friday, June 28.
Eddy said big countries like the United States need palm oil, especially for their industrial sector.
"So it means that they themselves, namely large countries, also need palm oil commodities, especially for industry," he said.
According to him, palm oil is one of the world's vegetable oils. When Gapki saw that once the government banned exports, the world became shaking with the absence of palm oil.
"Twits cannot disappear from the world, meaning they really need them. So it means that export movements are down or what is only seasonal or seasonal," said Eddy.
For information, the US Presidential Election (Pilpres) will be held on November 5, 2024.
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The two candidates, especially those who will compete, are incumbent Joe Biden of the Democratic Party and Donald Trump of the Republican Party.
President Joe Biden and former President Donald Trump again faced off in the first debate of the 2024 United States Presidential Election which took place on Thursday (27/6) evening local time.
The debate became the first in the history of the United States where an incumbent faced a defendant and former president.
Indonesia itself controls 54 percent of the world's palm oil exports. Palm oil is a strategic commodity for Indonesia, where last year, the export value of palm oil reached 28.45 billion US dollars.
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