TEMPO.CO, Nusa Dua - The Indonesian Palm Oil Producers Association (Gapki) predicted that CPO production in 2016 would be somewhere between 33 million and 35 million tons comprising 22 million tons for exports and 13 million tons for domestic consumption.
Gapki director executive Fadhil Hasan said that CPO prices next year would be around US$580-US$600 per ton. According to Fadhil, the CPO prices have been affected by the implementation of biodiesel mandatory program, drought, crude oil prices and the establishment of the Council of Palm Oil Producing Countries (CPOPC).
“El Nino and forest fires have reduced CPO productivity by 3-5 percent,” Fadhil said when speaking at the 9thIndonesian Palm Oil Conference (IPOC) in Bali on Friday, November 27, 2015.
By October this year, Indonesia had exported 21.5 million tons of CPO. In November and December, the figure is expected to increase to 25.7 million tons from last years’ 21.7 million tons.
Gapki held the 9th Indonesian Palm Oil Conference (IPOC) in Bali on November 25-27, 2015. The international conference discussed CPO prices prediction (CPO fund).