Indonesia palm oil group says palm oil exports to US may fall due to tariffs
Palm oil products are among Indonesia's top exports to the United States.
If implemented, the tariff could lead to a 15%-20% drop in Indonesian palm oil shipments to the United States, which stood at an average of 2.25 million metric tons per year over the past three years, Hadi said.
Overall, Indonesia exported 29.5 million tons of palm oil products in 2024.
'The competitiveness of palm oil will decline against other vegetable oils such as soybean oil and rapeseed oil, especially if countries exporting these vegetable oils receive lower tariffs,' he added.
Malaysian palm oil futures rise on strong crude oil
Indonesian palm oil products, which account for 85% of US palm imports, may also lose market share to Malaysian palm oil, which faces a lower tariff.
Indonesia's top negotiator is headed to Washington on Tuesday to meet with trade representatives of the United States, an economic ministry official said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
26 minutes ago
- Express Tribune
X blasts India 'censorship' order
Logo of X platform with 3D printed statue of Elon Musk. PHOTO: REUTERS Social media platform X said Tuesday it was "deeply concerned" after the Indian government ordered it last week to block more than 2,000 accounts, including two belonging to the Reuters news agency. Many of the blocked accounts were restored within hours, and New Delhi denied any role in the takedown. India, the world's biggest democracy, regularly ranks among the top five countries for the number of requests made by a government to remove social media content. "On July 3, 2025, the Indian government ordered X to block 2,355 accounts in India, including international news outlets like @Reuters and @ReutersWorld," X's Global Government Affairs team said in a statement shared on the platform. The statement added that India's Ministry of Electronics had "demanded immediate action — within one hour — without providing justification, and required the accounts to remain blocked" until further notice. An Indian ministry spokesperson denied such an order was issued, saying there was "no intention to block any prominent international news channel". "The moment Reuters and Reuters World were blocked on X platform in India, immediately the government wrote to 'X' to unblock them," the spokesperson told news agency ANI. The accounts were taken offline late on Saturday, but had resumed operating by Sunday. "Non-compliance risked criminal liability," said X, the platform formerly known as Twitter and owned by the world's richest person Elon Musk. "After public outcry, the government requested X to unblock @Reuters and @ReutersWorld," it added. "We are deeply concerned about ongoing press censorship in India due to these blocking orders." Rights groups say freedom of expression and press freedom have been under threat in India since Hindu nationalist Prime Minister Narendra Modi took office in 2014. New Delhi regularly imposes blanket internet shutdowns during periods of unrest. In April, India launched a sweeping crackdown on social media, banning more than a dozen Pakistani YouTube channels for allegedly spreading "provocative" content following an attack in Kashmir. Many of those have been restored. New Delhi has also imposed intermittent internet outages in the northeastern state of Manipur since 2023 in the wake of ethnic violence.
Business Recorder
2 hours ago
- Business Recorder
X blasts India ‘censorship' order on thousands of accounts
NEW DELHI: Social media platform X said Tuesday it was 'deeply concerned' after the Indian government ordered it last week to block 2,355 accounts, including two Reuters news agency accounts. Many of the blocked accounts were restored hours later, with New Delhi specifically denying its role in the takedown. India, the world's biggest democracy, regularly ranks among the top five countries for the number of requests made by a government to remove social media content. 'On July 3, 2025, the Indian government ordered X to block 2,355 accounts in India, including international news outlets like @Reuters and @ReutersWorld,' X's Global Government Affairs team said in a statement, shared on its platform. It said that India's Ministry of Electronics 'demanded immediate action — within one hour — without providing justification, and required the accounts to remain blocked' until further notice. The accounts were taken offline late on Saturday, but had resumed operations by Sunday. 'Non-compliance risked criminal liability,' said X, the platform owned by Tesla boss Elon Musk and formerly known as Twitter. 'After public outcry, the government requested X to unblock @Reuters and @ReutersWorld,' it added. 'We are deeply concerned about ongoing press censorship in India due to these blocking orders.' Rights groups say freedom of expression and free press is under threat in India since Hindu nationalist Prime Minister Narendra Modi took office in 2014. New Delhi has regularly imposed blanket internet shutdowns during periods of unrest. India in April launched a sweeping crackdown on social media, banning more than a dozen Pakistani YouTube channels for allegedly spreading 'provocative' content following an attack in Kashmir. Many of those of have been restored. New Delhi has also imposed intermittent internet outages in the northeastern state of Manipur since 2023 in the wake of ethnic violence.
Express Tribune
7 hours ago
- Express Tribune
Govt shortlists four bidders as PIA privatisation gains momentum
Listen to article The federal government said on Tuesday it had approved four parties, including business groups and a private education operator, to potentially bid for a stake in debt-ridden Pakistan International Airlines. The government has been seeking to sell a 51-100% stake in the struggling national airline to raise funds and reform cash-draining, state-owned enterprises as envisaged under a $7 billion International Monetary Fund programme. It would be the country's first major privatisation in nearly two decades. Among the bidding groups, one is a consortium of major industrial firms Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures. Read More: Five bids received for PIA sell-off Another is led by investment firm Arif Habib Corp, and includes fertiliser producer Fatima Fertilizer, private education operator The City School, and real estate firm Lake City Holdings. Additionally, Fauji Fertilizer Company, a subsidiary of the Fauji Foundation — one of the country's largest conglomerates — and Pakistani airline Airblue have been approved to bid for PIA. "The pre-qualified parties will now proceed to the buy-side due diligence phase," Privatisation Minister Muhammad Ali said in a statement. Also Read: Imran plans jail-led protest, sons to join after return from US The review process is set to last two to two-and-a-half months, with final bidding and negotiations anticipated in the fourth quarter of 2025, Ali previously told Reuters. The privatisation ministry also said that the Cabinet Committee on Privatisation approved the transaction structure for the Roosevelt Hotel located in New York, including options for both outright sale and long-term lease. From the Roosevelt Hotel, the government is expecting over $100 million as a first payment during this year, Ali previously told Reuters.
