Thursday, September 28, 2023

Palm Oil Offers Solution to Global Energy Crisis: Gapki

Jayanty Nada Shofa
December 1, 2021 | 2:08 pm
SHARE
A staff shows samples of B-20, B-30, B-100 palm-oil based biodiesel in Jakarta on February 26, 2019.(Antara Photo/Aprillio 
Akbar)
A staff shows samples of B-20, B-30, B-100 palm-oil based biodiesel in Jakarta on February 26, 2019.(Antara Photo/Aprillio Akbar)

Jakarta. The Indonesian Palm Oil Association, or Gapki, said on Wednesday that palm oil-based renewable energy can help resolve the energy crunch that many countries are facing.

“With the energy crisis now happening in some parts of the world, palm oil-based renewable energy will be a solution or an alternative. This will make palm oil become a significant industry in the energy industry,” Gapki chairman Joko Supriyono told the annual Indonesian Palm Oil Conference (IPOC) on Wednesday.

According to Joko, 2021 has been a great year for the palm oil industry.

The average price of crude palm oil (CPO) has surpassed $1,000 per metric ton throughout the year. As countries head for economic recovery, vegetable oil —including palm oil— will see a rise in demand.

Advertisement

“Demand for palm oil is expected to continue to increase, especially during the energy crisis in a number of countries," Joko said.

"Biodiesel will be an alternative to overcome this energy crisis. The question is, will this price continue in 2022?” he added.

Joko’s remarks alluded to the shortage of energy hitting major economies worldwide, including the United Kingdom and China. Bloomberg also reported over the weekend that winter could worsen the energy crisis in Europe.

Tags: Keywords:
SHARE

POPULAR READS


Special Updates 6 hours ago

Pertamina's Balikpapan Refinery Master Plan Reports 82 Pct Progress

The Balikpapan refinery master plan is expected to help Indonesia cut down its oil fuel imports.
News 7 hours ago

Nagorno-Karabakh Gov't to Dissolve Itself by January 2024

The move comes after Azerbaijan carried out a lightning offensive to reclaim full control over its breakaway region.
Special Updates 22 hours ago

Annual Culinary Fest 'Pasar Senggol' Returns to Summarecon Mall Bekasi

With 114 tenants at 99 booths, four food trucks, and 11 food carts, visitors have thousands of menu choices to explore.
News 22 hours ago

Anies and Muhaimin Visit Rizieq

The presidential candidate and his running mate attended the wedding of Rizieq's daughter in Petamburan.
News Sep 27, 2023 | 5:53 pm

Prabowo in 'Final Phase' of Selecting Running Mate

Among the three possible candidates for the presidential race, Anies Baswedan was the first to unveil his running mate.
COPYRIGHT © 2023 JAKARTA GLOBE. ALL RIGHTS RESERVED