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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

10/07/2001

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

NULL

CATEGORY

HEADLINE

INDONESIA SAYS TARGETS 45 PCT CHINA PALM OIL MARKE
INDONESIA SAYS TARGETS 45 PCT CHINA PALM OIL MARKET

JAKARTA, July 9 (Reuters) - Indonesia hopes to boost its share of China'spalm oil market to 45 percent this year from between 30-35 percentcurrently, a trade ministry official said on Monday.The world's second-largest palm oil producer has been strengthening itspalm oil promotion in China after the major buyer planned to increase itsimport quotas of palm oil, Trade and Industry Minister Luhut Pandjaitansaid.Analysts expect China to import 1.5 million to 1.6 million tonnes in2001."We are targeting a 45 percent market share in China this year... Chinahas pledged to increase its import quota this year. We want to grab themarket," Pandjaitan told reporters.He added that Malaysia, the world's number one palm oil producer, held65 percent of China's market share.An aggressive Indonesian plan to boost sales in China would putpressure on a joint cooperation deal between the top two producers becauseIndonesia could only boost its market share at the expense of Malaysia's.Pandjaitan said Indonesia planned to launch a marketing campaign inChina in September/October.As part of the cooperation deal, Pandjaitan and Malaysian PrimaryIndustries Ministers Lim Keng Yaik visited China and India together inApril to lobby for better access for palm oil.Pandjaitan earlier this year said he hoped the present full-year quotaof 1.2 million tonnes from Malaysia and Indonesia could be increased by upto 400,000 tonnes.China imported 425,089 tonnes of palm oil in the first four months, upfrom 405,870 tonnes in the same period the previous year, customs figuresshow.