An Indonesian trade diplomacy visited Oleo Misr company and was welcomed by its CEO Mohamed Radwan, who expressed enthusiasm over conducting trade relations with Indonesia, especially in the palm oil product sector.
He also appreciated the efforts made by the Indonesian Embassy in Cairo to facilitate cooperation between his country's companies and several potential Indonesian suppliers.
"We sincerely hope that the cooperative relations in the trade sector between Egypt and Indonesia can continue to be improved and we appreciate the support the Indonesian Embassy in Cairo gave us on connecting us with suppliers," Radwan said.
Oil demand for household consumption in Egypt reaches 1.2 million tons per year, of which 400-500 thousand tons come from palm oil.
"Therefore, we will import palm products and some derivatives from Indonesia, in addition to cooking oil, and products such as soap, detergents, and chemical products. "About 30-40 percent of our palm oil products will later be exported to the African and European countries," Radwan explained.
Oleo Misr previously signed a contract with the Parent Company, PTPN III (Persero), for the delivery of 10,000-16,000 metric tons (MT) of palm oil per month, with a value of 100 million US dollars (around Rp1.4 trillion).
Oleo Misr also agreed to ship palm oil amounting to as much as 4,000-5,000 MT per month, with a value of 30 million US dollars (around Rp424 billion), from PT Chitra Agri.
Ambassador Helmy and Mr. Radwan discussed the Palm Oil Business Forum which the Indonesian Embassy in Cairo will hold it in August to improve trade relations between Indonesia and Egypt, especially in the palm oil sector.
