Travel restrictions during the pandemic prevented many countries from finding new cross-border business partners and that resulted in a sharp drop in Indonesia’s export. Indonesia’s total export (billion dollar) declined by 28.95 percent year-on-year in May 2020.
To arrest the situation, Indonesia quickly stepped in with an experiment to facilitate online business matching for its private sector companies. In one of the online matching sessions, a brown sugar producer was able to secure a purchase agreement that was worth about USD$37,000 with another company that was based in Australia.
After several online business matching sessions, Indonesia is now taking the leap forward to do similar matching for renewable energy companies that are looking to find business opportunities in Japan and elsewhere. Indonesia planned to focus on the biomass business such as the palm kernel shell sector.
Palm kernel shell is a by-product of the palm oil industry but is fast becoming an important source of feedstock for biomass energy generation. Although always traditionally used by palm oil mills as a source of energy, interest from power generators is growing.
PT Prime, an Indonesian company, managed to secure a contract to send 10,000 tonnes of palm kernel shells to Japan and they are expecting to increase the trading tonnage to more than 100,000 per year if the business conditions pan out well.
Biomass is being increasingly used in power plants in Japan as a source of fuel, particularly after the tragic accident at Fukushima nuclear power plant in 2011. Palm kernel shell has emerged as a favorite choice of biomass-based power plants in the country. Most of these biomass power plants use palm kernel shell as their energy source, and only a few operate with wood pellets.
At the moment, Indonesia is still trying to make the palm kernel shell sector competitive by eliminating export levies.
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