ID :
32054
Tue, 11/25/2008 - 06:33
Auther :
Shortlink :
http://m.oananews.org//node/32054
The shortlink copeid
CPO EXPORTS PROJECTED TO YIELD US$ 9.1 BILLION IN 2008
Jakarta, Nov 24 (ANTARA) - The Indonesian Palm Oil Producers Association (Gapki) estimates that crude palmoil (CPO) exports will contribute US$ 9.1 million to the country's foreign echange earnings in 2008.
"CPO exports are estimated to reach 13 million tons in 2008. If the average price is US$ 650-700 per ton, then the foreign exchange earnings could reach US$ 9.1 billion," Gapki Chairman Akmaluddin Hasibuan said here Monday.
He said the volume of CPO exports was expected to total only 13 million tons, instead of the 14 million tons projected previously. But if the initial target of 14 million tons could be reached after all, and the average price was US$700 per ton, the country could earn US$ 9.8 billion from the exports.
Meanwhile, Gapki Exectuive Chairman Derom Bangun said CPO exports had declined recently due to production controls and the industry's obligation to meet domestic demand.
"Our production target for this year is actually 18.5 million tons. Of this quantity, 4.5 million tons are intended for the domestic cooking oil, soap and noodle industries, hundreds of tons to make new energy sources and the rest is for export," he said.
He also said a decline in overseas demand during the second semester of this year had led the lower export projection and a greater allocation for the domestic market.
Asked about the windfall profits CPO businessmen had earned due to the weakening of the rupiah against the US dollar, Bangun said he had no positive information on the matter. .
He said the decline in the world CPO price price had prevented CPO producers in general from enjoying windfall profits.
"Only certain big companies with large outputs earned windfall profits, others probably suffered losses," he said.
"CPO exports are estimated to reach 13 million tons in 2008. If the average price is US$ 650-700 per ton, then the foreign exchange earnings could reach US$ 9.1 billion," Gapki Chairman Akmaluddin Hasibuan said here Monday.
He said the volume of CPO exports was expected to total only 13 million tons, instead of the 14 million tons projected previously. But if the initial target of 14 million tons could be reached after all, and the average price was US$700 per ton, the country could earn US$ 9.8 billion from the exports.
Meanwhile, Gapki Exectuive Chairman Derom Bangun said CPO exports had declined recently due to production controls and the industry's obligation to meet domestic demand.
"Our production target for this year is actually 18.5 million tons. Of this quantity, 4.5 million tons are intended for the domestic cooking oil, soap and noodle industries, hundreds of tons to make new energy sources and the rest is for export," he said.
He also said a decline in overseas demand during the second semester of this year had led the lower export projection and a greater allocation for the domestic market.
Asked about the windfall profits CPO businessmen had earned due to the weakening of the rupiah against the US dollar, Bangun said he had no positive information on the matter. .
He said the decline in the world CPO price price had prevented CPO producers in general from enjoying windfall profits.
"Only certain big companies with large outputs earned windfall profits, others probably suffered losses," he said.
