MEDAN – Chairman of Indonesian Palm Oil Board (MPOB) Derom Bangun said, this year, the stock of crude palm oil (CPO) will be over up to 3 millions tons.
He thought, the decreasing demand is from the importer countries, such, India, United States, and Europe. In the first quarter this year, the total CPO export to India was only 478.000 tons or it decreased 58% than the same period in last year which was 1,137 millions tons.
"Indeed, India is the biggest country to import Indonesia’s CPO, including the derivatives,” he said as quoted from Medan Bisnis Daily, Thursday (14/8/2014).
Furthermore in this year, the CPO production in this country will be 29,5 millions tons. By the decreasing demand, the CPO will be absorbed only about 19,5 millions tons. The rests about 7 millions tons will be used to fulfill in the domestic needs while the other 3 millions tons will be adjurned. (T3)
