Kontan Harian, 20 December 2018
The Indonesian Palm Oil Association (Gapki) estimated crude palm oil (CPO) exports at around $19.50 billion this year, down 19% from $22.97 billion in 2017. However, Gapki Executive Director Mukti Sardjono on Wednesday (December 19) said the industry would still be able to achieve its CPO production target of 42 million metric tons this year. Mukti said Gapki would soon release latest update on CPO production and exports in November 2018. Mukti predicted global CPO price would recover in 2019 because the 20% biodiesel blend (B20) program is expected to raise domestic CPO consumption by 5 million metric tons-6 million metric tons.
Subscribe to our newsletter
Stay on top of the industry's news because your informed opinion matters to the palm oil industry.