Indonesia is expected to provide 720000 tons of palm oil to China this year
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Last Update: 2002-01-30
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Source: Internet
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Author: User
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Lead: Jakarta, January 29, Reuters Indonesia is expected to supply 720000 tons of palm oil to China this year, or 30% of China's import quota, gapki said Tuesday The president of the association, Derom Bangun, claimed that China's import quota for palm oil increased from 1.4 million tons last year to 2.4 million tons in 2002 due to China's accession to the WTO "China is expected to announce a quota of 2.4 million tons of palm oil this year, and we expect to have the opportunity to provide 720000 tons of palm oil," he told Reuters in a telephone interview in Medan, North Sumatra province Indonesia is the world's second largest palm oil producer after Malaysia He claimed that Indonesia exported 450000 tons of palm oil to China in 2001, accounting for 30% - 35% of China's total import of 1.4 million tons of palm oil in 2001 China imposes quotas on edible oil to restrict imports "It is expected that the increase in China's palm oil quota will drive the price of palm oil in the international market, especially crude palm oil," he said Crude palm oil for January shipment in Indonesia traded at US $330 / bushel CIF Rotterdam on Monday More than 80% of Indonesia's palm oil exports are crude palm oil Last year, Malaysia's palm oil supply accounted for about 60% of China's quota "Malaysia will still control the Chinese market this year," he said (author:) share to feed Weibo share to:
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