ID :
93232
Fri, 12/04/2009 - 19:17
Auther :
Shortlink :
https://www.oananews.org//node/93232
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RI CPO PRODUCTION PROJECTED TO INCREASE BY 1-1.5 MILLION TONS
Nusa Dua, Bali, Dec 4 (ANTARA)- Indonesia's crude palm oil (CPO) production next year is projected to increase by 1 - 1.5 million tons from this year's production estimated to reach more than 20 million tons, analysts said.
"Indonesia's CPO production in 2010 will increase by 1 - 1.5 million tons from this year's estimated figure at 20 million tons. The 2010 prediction is realistic, though it could reach 2 million tons," Dorab E Mistry of Godjred International Ltd said here on Friday.
Speaking at the "Indonesia Palm Oil Conference and Outlook 2010," Dorab said that the increase in Indonesia's CPO production would happen because Indonesia had fast areas and was active in expanding plantations, particularly in 2007 that would boost its production next year.
In the meantime, Malaysia which now has become the second biggest producer, will see its CPO production to decline. In 2009 Malaysia's CPO production is projected to reach 17.5 million tons only, down from last year's production at 17.7 million.
"This is for the first time in its history Malaysia is to experience a decline of CPO production in two consecutive years," Dorab who often spoke of CPO in international conferences, said.
He said that CPO trees in Malaysia were now old and aging and the country was carrying out replanting programs. Besides, the arrival of the El-Nino weather phenomenon also affected the CPO production of that country.
With that condition, Dorab predicted that in the first quarter of 2010, the CPO price would range at 2,800 and 3,000 ringgit per tons. The price will further increase because the world demand will also be higher than the supply.
He initially predicted in 2010 the world demand for CPO would increase to 5.5 million while supply could only 4.4 million tons. But after seeing the latest developments, he revised his prediction, saying that supply could meet 3.25 million tons only while demand would remain at 5.5 million tons.***2***
"Indonesia's CPO production in 2010 will increase by 1 - 1.5 million tons from this year's estimated figure at 20 million tons. The 2010 prediction is realistic, though it could reach 2 million tons," Dorab E Mistry of Godjred International Ltd said here on Friday.
Speaking at the "Indonesia Palm Oil Conference and Outlook 2010," Dorab said that the increase in Indonesia's CPO production would happen because Indonesia had fast areas and was active in expanding plantations, particularly in 2007 that would boost its production next year.
In the meantime, Malaysia which now has become the second biggest producer, will see its CPO production to decline. In 2009 Malaysia's CPO production is projected to reach 17.5 million tons only, down from last year's production at 17.7 million.
"This is for the first time in its history Malaysia is to experience a decline of CPO production in two consecutive years," Dorab who often spoke of CPO in international conferences, said.
He said that CPO trees in Malaysia were now old and aging and the country was carrying out replanting programs. Besides, the arrival of the El-Nino weather phenomenon also affected the CPO production of that country.
With that condition, Dorab predicted that in the first quarter of 2010, the CPO price would range at 2,800 and 3,000 ringgit per tons. The price will further increase because the world demand will also be higher than the supply.
He initially predicted in 2010 the world demand for CPO would increase to 5.5 million while supply could only 4.4 million tons. But after seeing the latest developments, he revised his prediction, saying that supply could meet 3.25 million tons only while demand would remain at 5.5 million tons.***2***
