Palm oil exports from Indonesia may rise at least 10% this year. Photo: BloombergJakarta: Palm oil exports from Indonesia to India, the world’s biggest buyer, will probably climb to the highest ever this year as strong demand counters higher import duties. Shipments of palm and kernel oils to India climbed 32% to record 7.6 million metric tons in 2017 from a year earlier, according to the Indonesian Palm Oil Association, commonly known as Gapki. The move, coupled with high inventories in top producers Indonesia and Malaysia, resulted in palm oil prices dropping 19% last year. New marketsPalm oil exports from Indonesia may rise at least 10% this year, Sitanggang said.

Source: Mint February 05, 2018 05:37 UTC