RI's palm oil output up

RI's palm oil output up

MANILA (Reuters): Production of Indonesian crude palm oil is expected to increase to 5.5 million tonnes next year, up from a projected 5.2 million this year, Indonesian Oil Palm Research Institute director Kabul Tamin said yesterday.

Crude palm oil production was 4.9 million tonnes last year. "(It's) because of expansion in the areas covered and increased maturity of palm trees," Tamin told Reuters.

Tamin, who is in Manila for a lauric oils symposium, said Indonesian palm oil production was likely to reach 7.456 million tonnes by 2000, while output of palm kernel oil would be 1.64 million tons.

Tamin declined to predict what price crude palm oil would be at by next year, but said it could firm up due to the El Nino weather phenomenon. He did not elaborate.