TEMPO.CO, Jakarta - Several experts and commodity analysts will deliver outlook of the world palm oil business at the 2018 International Palm Oil Conference (IPOC) held from Oct 31 to Nov 2 in Nusa Dua, Bali.
The world`s largest palm oil conference is an annual event organized by the Indonesian Palm Oil Business Association.
"Several analysts and world experts will be participating as speakers at the event. Among the speakers are James Fry from LMC International England, Dorab Mistry from Godrej International England, Thomas Mielke from ISTA Mielke GmbH (Oil World) Germany, and other world-class speakers," IPOC 2018 Chairperson Mona Surya noted in a press statement received by Antara on Wednesday (Oct 3).
Surya remarked that the experts will respond to questions on palm oil prices that fell down sharply this year, and the projection for next year.
"James Fry will deliver an analysis on whether this falling price is also related to an embargo from the European Union. He will also explain about an increase in import duty rates imposed by several countries, such as India, for Indonesia`s palm oil exports," Mona noted.
She pointed out that IPOC has become a reference for the world`s analysts and businesspersons to analyze current year prices and make an outlook for palm oil prices for next year.
Analysis provided by the experts at IPOC will be a reference in the business decision-making process.
"The price of palm oil this year has dropped sharply. This is what makes many businesspersons enthusiastic to participate in the IPOC," Mona pointed out.
Mona, who is also PT Minanga Ogan`s CEO, stated that the 2018 IPOC 2018 and the 2019 Outlook Price will bear the theme "Palm Oil Development: Contribution to SDGs." The theme also holds significance, as it addresses negative issues of palm oil plantations.
"Through this conference, we want to demonstrate to the world that palm oil is a sector that contributes greatly to the achievement of SDGs (sustainable development goals)," Mona remarked.
Last year, some 2,500 people from 36 countries had participated in the IPOC conferences and exhibitions.
"Seeing the enthusiasm of the registrants, it is most likely that the number of the 2018 IPOC participants will be bigger," she noted.
According to Mona, several Indonesian government officials and experts are also scheduled to be present as speakers at this conference, including Coordinating Minister for Economic Affairs Darmin Nasution, Head of the National Development Planning Agency Bambang Brodjonegoro, and economist from University of Indonesia, Febrio Kacaribu.