RI's palm oil exports may rise

RI's palm oil exports may rise

JAKARTA: Indonesia's exports of crude palm oil may rise 15 percent from last year as temperatures are not as dry as expected, helping the crop, said the Indonesia Palm Oil Producers Association.

Exports may rise to as much as 10 million metric tons, from 8.66 million tons in 2004, up from an earlier estimate of 9.5 million tons this year, said Derom Bangun, the chairman of the association, in an interview.

He forecast output rising to 13.6 million metric tons this year from 12 million tons in 2004. Last year, Indonesia raised palm oil exports by 36 percent to 8.66 million tons as output exceeded forecasts by 12 percent.

Indonesia is the world's biggest exporter of palm oil after Malaysia. The edible oil is processed into cooking oil and margarine, and chemicals used in soap. -- Bloomberg