According to the forecast of the Indonesian Palm Oil Association (GAPKI), global palm oil production in 2019 will grow to 51.6M tons, reports Reuters.
In 2018, global production will be 46.9M tons, including Indonesia, which is the world's largest manufacturer of palm oil, with 42M tons. Indonesia intends to more actively and aggressively promote palm oil on the world market. To this end, Indonesia will launch a state program to increase the productivity of plantations in 2019, and negotiations will be launched with the EU countries, which today put barrage measures on Indonesian oil, including using negative campaigning.
In 2018, Indonesia plans to produce 42M tons of palm oil, while maintaining its leadership in world production (today, the country accounts for about 60% of world production). At the same time, sharp fluctuations in the stock price of oil and the stagnating efficiency of the industry are forcing local authorities to undertake a serious reform of the industry.
Indonesia intends to increase crude palm oil exports mainly through new markets, such as Pakistan, Bangladesh and South Africa. The country's president intends to hold talks with China in order to increase export quotas for China.
Source: mkond.ru.
