Jan 20, 2015
The Jakarta Globe. Kuala Lumpur. Crude palm oil production in Indonesia, the world’s biggest grower, is expected to rise to 32.5 million metric tons in 2015, a senior official from a leading industry association said on Monday.
Fadhil Hasan, executive director at the Indonesian Palm Oil Association, or GAPKI, also said ar=t an industry conference in Kuala Lumpur that exports of Indonesian crude palm oil and palm products would rise to 21.6 million tons.
In November, Hasan had forecast that output would increase by just over 3 percent in 2015 to 31.5 million tons after prolonged drought crimped production in the main growing region Sumatra.
He told the conference on Friday that Indonesia would probably take 10.7 million tons of palm oil for domestic consumption in 2015.
Final figures for 2014 output and exports are not yet available.
Hasan said CIF Rotterdam palm oil prices would probably range between $700 and $750 per ton in 2015, depending on crude oil prices, economic growth in top buyers India and China and the implementation of rules stipulating certain levels of biofuel use in Indonesia.