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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Indonesia palm exports may jump by 9% in '13

Indonesia palm exports may jump by 9% in '13

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Hanoifortune

Hanoifortune
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics



[JAKARTA] Palm oil exports from Indonesia, the world's biggest producer of the edible oil, may rise by as much as 9 per cent this year, a top industry association official said yesterday, as improving global economic conditions boost demand.

Palm oil exports were little changed in 2012 at 16.5 million tonnes but this will rise to between 17 million- 18 million tonnes in 2013, Fadhil Hasan, executive director at the Indonesian Palm Oil Association (GAPKI), told Reuters.

"After the first half, if there is an improvement in the global economy and a rise in (crude) oil . . . maybe around 17 million-18 million tonnes," said Mr Hasan.

Late last year, GAPKI forecast that Indonesia's palm oil production would rise 7 per cent this year to 27 million tonnes. Palm oil is used mainly as an ingredient in food such as biscuits and ice cream, or as biofuel. Indonesia and Malaysia account for about 90 per cent of global production.


http://www.businesstimes.com.sg/premium/asia-pacific/indonesia-palm-exports-may-jump-9-13-20130108

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