Palm oil output in the world’s biggest producer Indonesia is expected to climb 7 percent next year to 27 million tonnes, a top industry association official said on Thursday, as three years of acreage expansion efforts bear fruit. Output of the edible oil is also forecast to end 2012 at 25.2 million tonnes, up from 23.5 million tonnes in 2011, Fadhil Hasan, executive director at the Indonesian Palm Oil Association (GAPKI), told Reuters.
“If 2013 is going to be like 2012 in terms of weather and climate, and there are no shocks in the supply, maybe output will be about 27 million tonnes,” said Hasan, speaking on the sidelines at the 8th Annual Indonesian Palm Oil Conference on the island of Bali.
Tags: expansion, biscuits, ice cream, biofuel, stocks, oil’s green credentials, deforestation, climate change, “Nutella tax”
Source: Business Recorder, 2012-12-02.