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Indonesia’s Palm Oil Exports Forecast by Gapki to Stagnate in 2015 Amid Low Prices
Indonesia’s Palm Oil Exports Forecast by Gapki to Stagnate in 2015 Amid Low Prices
11/12/2014 (Jakarta Globe) - Indonesia’s palm oil exports may stagnate next year, amid sustained low global prices of the commodity, according to Indonesia Palm Oil Producer Association, or Gapki.
The country is forecast to export 21.6 million metric tons of crude palm oil next year, up 1.4 percent from an estimated 21.3 million metric tons this year, said Fadhil Hasan, Gapki’s executive director, on Monday.
Fadhil estimated the exports to be valued at up to $17.3 billion in 2015, down from this year’s target of $18.4 billion. He hoped the government would maintain its zero percent export tax policy — implemented since Oct. 1 — into next year to boost exports.
CPO production is seen rising only 4.8 percent to 32.5 million tons in 2015 from an estimated 31 million tons this year, Fadhil said, citing the association’s forecast of drought and a ban on opening new peatland for palm plantation that would curb yields.
The country is forecast to export 21.6 million metric tons of crude palm oil next year, up 1.4 percent from an estimated 21.3 million metric tons this year, said Fadhil Hasan, Gapki’s executive director, on Monday.
Fadhil estimated the exports to be valued at up to $17.3 billion in 2015, down from this year’s target of $18.4 billion. He hoped the government would maintain its zero percent export tax policy — implemented since Oct. 1 — into next year to boost exports.
CPO production is seen rising only 4.8 percent to 32.5 million tons in 2015 from an estimated 31 million tons this year, Fadhil said, citing the association’s forecast of drought and a ban on opening new peatland for palm plantation that would curb yields.