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China, India Reduce Imports Of Indonesian CPO
calendar22-07-2004 | linkAsia Pulse | Share This Post:

JAKARTA, July 21 Asia Pulse - The world's largest consumers of crude palmoil (CPO), China and India, have since May reduced imports of thatcommodity from Indonesia.

China cut its import of CPO as part of its policy to slow down economicgrowth and avoid overheating while India reduced imports because of anincrease in domestic production, the association of palm oil companies(Gapki) said.

Gapki chairman Derom Bangun said China was earlier expected to import 2.6million tons of CPO including 600,000 tons from Indonesia annually, butlately Chinese importers were forced to cut imports.

Bangun said this year that China and India are each expected to cutimports from Indonesia by 25 per cent .

Palm oil producers and growers have begun to feel the impact, with theprice fall of the commodity.

(ANTARA)