JAKARTA (rambuenergy.com) – Crude palm oil (CPO) production in Indonesia in 2015 is expected to increase to 31 million tons from projected 29.5 million tons in 2014, Chairman of the Indonesian Palm Oil Council Derom Bangun said.
“In 2014, national palm oil production was expected to reach only 29.5 million tons, up from 26.2 million tons in 2013,” Bangun was quoed by state news agency Antara as saying.
He said crude palm oil produciton in 2014 was hindered by bad weather which led to disruption in fresh fruit bunch production.
Derom said crude palm oil production only increased slightly last year by around 5 percent, far lower than CPO production increase in 2010 which increased above 10 percent.
He expects given slow production increase, the CPO price could increase to around US$700 per metric tons.
He is uncertain that demand for Indonesian CPO from Indonesia and India would increase in 2015, nevertheless, he expects CPO price could increase in 2015. (*)