Jakarta (ANTARA News) - Indonesia`s crude palm oil exports dropped 54.02 percent in the first three months of 2009, compared with the same period last year.
The executive director of Greenomics Indonesia. Elfian Effendi, said in a press statement received here on Monday that the country`s income from CPO exports continued to drop by US$1.07 billion.
In terms of volume however the CPO exports only declined 11.2 percent, he said.
He said the significant drop in income from CPO exports followed a decline in the value of exports following a price slump up to 48.22 percent.
He said boycott threats from certain parties were proven not affecting global demand significantly but exports to several European Union members even rose.
He said "the threats seemed to be ineffective as they have been considered mere international trade propaganda while environmental issue adopted to support the threat has waned."
He said the drop in the export volume was caused by various domestic and global developments that occurred integratedly such as unalluring price of exports, increasing CPO substitutes supply and over supply effect, shift in segmentation in the domestic market and global crisis effect.
Elfian said from January to March 2009 Indonesia`s CPO exports to European Union countries rose 15.38 percent from 425,068 in the same period last year to 490,458 tons.
He said the value of transactions dropped by 40.87 percent from US$388.77 million to US$229.87 million because the price also dropped and not because the volume of exports to Europe declined.
He said the ups and downs in the commitment of the advanced countries to reducing global emissions had made global market players increasingly more indifferent towards targets of emission reduction moreover substitute materials were not adequately available. (*)