GAPKI Chairman
Dear Colleagues,
Numerous countries are now facing economic challenges that lead to inflation. In 2024, the impact of inflation on vegetable oil demand is multifaceted. Inflation has led to higher commodity prices, but demand and prices vary due to global economic activities, supply chain dynamics, and market expectations. It is important to monitor these trends closely as they can have significant implications for consumers, producers, and economies at large.
By the end of 2024, will make the beginning of EUDR implementation. This regulation has impacted the industry operation process. Throughout the first semester of the year, we have also observed price volatility due to factors such as steady but slow global economic growth, global politics, the ongoing conflict between Russia and Ukraine, and the progress of global vegetable oil production, all contributing to uncertainty.
The competition among vegetable oils in the global market has been fierce for a long time. Producing countries naturally protect their own products by enacting regulations that can be unfavourable to competing oils. This situation is further complicated by domestic regulations that increase production costs, making price competitiveness a significant challenge for the palm oil industry. In light of these challenges, we have chosen the theme for IPOC 2024: "Seizing Opportunities Amidst Global Uncertainty."
Domestic regulations significantly impact industrial growth, making it crucial for the government to consider all factors, particularly potential negative effects. It is essential that enacted laws promote, rather than hinder, industrial growth. At IPOC 2024, we will address Indonesia's recent palm oil regulations, as well as regulations in importing countries, particularly the European Union Deforestation Regulation (EUDR). Additionally, we will focus on the main topics of palm oil supply, demand, and price outlook. Prominent speakers will share their insights, and participants will have opportunities for in-depth discussions.
On behalf of the Indonesian Palm Oil Association, I am honored to invite our esteemed colleagues in the palm oil and related industries to join us at IPOC 2024. It is a pleasure to welcome our long-standing sponsors and partners, and we look forward to fostering productive relationships with new sponsors and partners. I also extend my heartfelt appreciation to our main sponsors for their support.
I encourage you to attend the conference to gain valuable information and expand your network. I am confident that this event will contribute significantly to the development and future shaping of the palm oil industry, benefiting your business in particular.
Your support and participation are crucial to the success of the conference. We look forward to welcoming you to IPOC 2024.
Eddy Martono
GAPKI Chairman