The palm oil industry is one of the biggest economic contributions in Indonesia. In the past few years, rapid development has attracted international attention. While known as one of the biggest donations in the economy, but the Indonesian palm oil product also one of the finest in the world. As a major income in Indonesia, this palm oil is not to be underestimated.
Biggest Palm Oil Plantation
In 2020, it is known that world palm oil production is dominated by Indonesia. Along with Malaysia, both countries comprising around 85 to 90% of the total production. Creating them the major character in the international market. It is proven by the rapid development and the number of land areas that reach 12.76 million hectares of oil palm plantation in Indonesia.
Exports To 45 Countries Worldwide
That is a big number of land areas for Indonesian palm oil, so where does the oil go? in this case, Indonesia has been a great contribution by exporting palm oil to more than 45 countries around the globe. Those countries are mostly looking for high-quality Crude Palm Oil from Indonesia. To be more specific here are the nine largest consumers of the CPO.
Some of them are China, Bangladesh, the united states, Egypt, the European Union, etc. What even more jaw-dropping is the high demand from India, EU, and China that accounted for 52% of the global import of CPO in 2009. As time goes, Indonesia will once again have a big role in the 2020 oil market based on the prediction of 75 million tons of palm oil demand in 2020.
Regardless of the negative impact of palm oil on the environment, it cannot be denied that the product is always worth your money, especially for the investor around the world. The growing needs for palm oil and the rapid development of the Palm oil in Indonesia have proven that they are serious about the business.
