President Inaugurates Palm Oil Conference

Bandung, West Java, Nov 28 (Antara) - President Susilo Bambang Yudhoyono, who was accompanied by First Lady Ani Yudhoyono and Agriculture Minister Suswono, inaugurated the 9th Indonesian Palm Oil Conference and 2014 Price Outlook on Thursday. Organized by the Indonesian Palm Oil Association (GAPKI), the conference will focus on industry value chain, market volatility, global market trends, and the price forecast for palm oil for the next year. "This annual conference in very important for Indonesia as well, because the global economic turmoil will certainly have implications for the country`s palm oil industry," President Yudhoyono said during his opening address. He noted that the weakening of the global economy had resulted in palm oil demand, prices, and exports declining, which needed to be addressed immediately. Meanwhile, GAPKI Chairman Joedly Bachrieny said the two-day conference would focus on strengthening the value chain in the palm oil industry and infrastructure in Indonesia, and on vegetable oil challenges during the next decade, the future market for vegetable oil and the short-term and long-term market, as well as the price outlook for palm oil and lauric oil. Joedly pointed out that in addition to the conference, an exhibition will also be organized to provide information on the latest developments in technology, products and services in the palm oil industry.