Indonesia's palm oil exports forecast to increase
Friday, 6 January 2012
JAKARTA, Jan 5 (ANN): Indonesia's palm oil production and exports are expected to grow this year thanks to strong demand from India and China despite lingering economic uncertainty in the US and Europe, an association says.
Indonesian Palm Oil Producers Association (Gapki) marketing head Susanto said on Wednesday that output could rise 6.4 per cent to 25 million metric tonnes this year, while exports could increase to 17.5 million to 18 million tonnes this year from last year's estimated 16 million tonnes.
"Demand for palm oil from China and India, our main markets, is still high, although demand from Europe will be stagnant this year," he told a press conference at the association office in Jakarta.
Susanto said demand from China and India would increase by between 4 and 5 per cent this year compared to last year.
However, this year's palm oil export projection to China this year was below the 21 per cent increase to 2.9 million tonnes in 2011.
The forecast for palm oil shipment to India this year was better this year because in 2010 and 2011 exports to India were relatively unchanged at 5.7 million tonnes. The data also showed that from 2010 to 2011, palm oil export to Europe rose from 3.5 million tonnes to 3.7 million tonnes.
"This year's export to Europe will be around 3.5 million tonnes and 3.6 million tonnes," Susanto said.
Gapki also anticipated a huge demand for palm oil from Pakistan, especially after Indonesia signed a preferential trade agreement (PTA) with the country in September last year.
Indonesian Palm Oil Producers Association (Gapki) marketing head Susanto said on Wednesday that output could rise 6.4 per cent to 25 million metric tonnes this year, while exports could increase to 17.5 million to 18 million tonnes this year from last year's estimated 16 million tonnes.
"Demand for palm oil from China and India, our main markets, is still high, although demand from Europe will be stagnant this year," he told a press conference at the association office in Jakarta.
Susanto said demand from China and India would increase by between 4 and 5 per cent this year compared to last year.
However, this year's palm oil export projection to China this year was below the 21 per cent increase to 2.9 million tonnes in 2011.
The forecast for palm oil shipment to India this year was better this year because in 2010 and 2011 exports to India were relatively unchanged at 5.7 million tonnes. The data also showed that from 2010 to 2011, palm oil export to Europe rose from 3.5 million tonnes to 3.7 million tonnes.
"This year's export to Europe will be around 3.5 million tonnes and 3.6 million tonnes," Susanto said.
Gapki also anticipated a huge demand for palm oil from Pakistan, especially after Indonesia signed a preferential trade agreement (PTA) with the country in September last year.