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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

30/03/2002

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

NULL

CATEGORY

HEADLINE

Indonesia, Malaysia see boost in crude palm oil ex
JAKARTA, March 20 (Asia Pulse) - Malaysia and Indonesia have a received aboost in crude palm oil exports following strong demand in the worldmarket.Malaysia and Indonesia are the largest and second largest producers ofthat commodity in the world.Growing demand such as from China, India, the European Union, the UnitedStates and Pakistan has pushed up the prices and boosted exports, amarketing official of state plantation companies said Tuesday.Stocks are dwindling fast causing an increase in prices on the domesticmarket, said Bagas Angkasa, an executive of the joint marketing office ofstate-owned plantation companies PT PN.Bagas said apart from dwindling stock, the price on the domestic marketrose after the visit of an Indonesian team to China to promote sales ofCPO.He said the rupiah strengthening curbed the price rise on the domesticmarket but the effect of price increase in the export market was stronger.Analysts said profit taking and shrinking stocks of edible oils such as inIndia pushed up the prices in international markets.- (ANTARA)