GAPKI Optimistic of Palm Oil Industry Protecting Economy from Crisis

The Indonesian Palm Oil Association (GAPKI) said that the domestic palm oil industry can protect the national economy in the face of a possible global crisis next year, Antara news, Nusa Dua Bali, reported on November 03.  Head of Taxation and Fiscal Affairs of GAPKI, Bambang Aria Wisena, said this during a press conference on the sidelines of the 2022 Indonesian Palm Oil Conference (IPOC) in Bali.

“The palm oil industry has contributed Rp500 trillion to the country’s export foreign exchange every year. In addition, this commodity creates employment for 16 million people,” Wisena said.  Similar optimism was also echoed by General Chairperson of the Indonesian Employers’ Association, Haryadi B. Sukamdani, who said that the national palm oil industry would not experience crisis, as it is a primary industry that produces food and other products, such as energy and other derivative products. 

After successfully emerging from two economic crises, the industry is currently able to contribute up to USD35 billion in foreign exchange and absorb up to 17 million workers, Sukadani added.