JAKARTA (rambuenergy.com) – Indonesia’s rude palm oil (CPO) production is expected to increase to 35 million tons next year from his year target 25.7 million tons, the Indonesian Palm Oil Producers Association (Gapki) said.
Executive Director Fadhil Hasan said that about 22 million tons of 2016’s production will be allocated for exports and 13 million tons for domestic consumption.
By October this year, Indonesia had exported 21.5 million tons of CPO. In November and December, the exports are expected to increase to 25.7 million tons from 21.7 million tons last year.
He projected that CPO prices in 2016 would hover at 580 to $600 per ton. Meanwhile,leading industry analyst James Fry sees prices at $650-$675 per ton by mid-2016 as top producer Indonesia will higher palm-based biodiesel. The price, said James, could climb higher to $800 if El Nino hits output. (*)