11/10/2012 (Jakarta Post) - As many as 100 Indonesian and foreign companies are participating in Palmex 2012, a palm oil industry exhibition, in Medan, North Sumatra. The number of participants rose 25 percent this year from 2011, according to the exhibition’s organizing committee head, Susan Tricia.

Participating foreign companies come from China, Britain, Germany, India, Italy, Malaysia, Singapore and Vietnam.

The committee expects to see an increase in the amount of “on-the-spot transactions”, Susan said.

“Last year, we recorded US$150 million in on-the-spot transactions. This time we are optimistic that we will be able to book $250 million. We also hope to welcome up to 7,000 visitors during the three-day exhibition,” she added.

Palmex 2012 will run until Oct. 12 at the Santika Premiere Dyandra Hotel and Convention.

The price of palm oil in the international market has been going down due to slowing demand from China and Europe coupled with high stockpiles in Indonesia and Malaysia, the two largest producers of palm oil in the world.