ASIATODAY.ID, DELI SERDANG – Minister of Trade of the Republic of Indonesia, Budi Santoso released the export of ten containers of palm oil derivative products, namely oleochemicals in the form of split fatty acids and crude glycerine, worth US$420 thousand to India, on Tuesday, December 17 2024 in Deli Serdang Regency, Sumatra North.
The oleochemicals products that are exported are produced by The Vegetable Vitamin Foods Company (PT VVF Indonesia), a subsidiary of the VVF group which was founded in India.
Budi said, in global trade, Indonesia is ranked first as an exporter of split fatty acid products which controls a market share of 40.97 percent. Meanwhile, Indonesia’s crude glycerine product is also number one in the world with a market share of 32.02 percent. The export value of these two palm oil derivative products in January-September 2024 was US$1.05 million, or an increase of 6.91 percent compared to the same period in 2023.
The export trend of Indonesian split fatty acids and crude glycerine in the last five years was 28.38 percent. India is the main export destination country for these two products.
In the industrial world, Oleochemicals are applied to food (cooking oil and margarine), cosmetics (moisturizer and soap), pharmaceuticals (medicines), energy (biodiesel), and chemicals (cleaners and solvents). (AT Network)
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