Palm Oil Entrepreneurs Benefited from Rupiah's Weakening  

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  • TEMPO.CO, Jakarta - The weakening of rupiah rates against the U.S. dollar has benefited palm oil entrepreneurs. National Palm Oil Council deputy chairman Delima Hasri Darmawan said the impact of the weakening rupiah has boosted incomes from palm oil exports. “It is more advantageous for exports,” he said when contacted by Tempo, Friday, September 19.

    On the other hand, he said, the decline of rupiah has distraught the government instead, because prices of commodities from overseas will increase. Moreover, Indonesia has been importing many agricultural products.

    For the electrical industry that is dominated by imported goods, the decline of rupiah has troubled them. “The movement is small, but often troubles entrepreneurs,” Electronics Industries Association (Gabel) chairman Ali Subroto Oentaryo when contacted, Friday, September 19.

    Bank Indonesia senior deputy governor Mirza Adityaswara said the weakening of rupiah exchange rate against the American dollar is still on the safe side. “Don't see the weakening of rupiah as an always negative thing [...] We only need to curb imports, and boost exports,” he said at the Bank Indonesia building, Friday, September 19.