July 15, 2012|Reuters
July 16 (Reuters) - Indonesia is set for a more than $2.5
billion wave of investment to build a palm oil refining industry
that will double its capacity and mean it could supply the
entire needs of Asia's top food consumers - India and China.
A Reuters survey of 30 firms operating in Indonesia - from
the world's biggest listed palm oil firm Wilmar to
conglomerate Unilever - shows plans to nearly double
refining capacity to 43 million tonnes of palm oil, or 80
percent of total world output.
http://articles.chicagotribune.com/2012-07-15/news/sns-rt-indonesia-palmoil-factboxl3e8hi1up-20120715_1_rspo-indonesian-palm-oil-association-indonesian-land
billion wave of investment to build a palm oil refining industry
that will double its capacity and mean it could supply the
entire needs of Asia's top food consumers - India and China.
A Reuters survey of 30 firms operating in Indonesia - from
the world's biggest listed palm oil firm Wilmar to
conglomerate Unilever - shows plans to nearly double
refining capacity to 43 million tonnes of palm oil, or 80
percent of total world output.
For a related story:
Here are some facts on Indonesia's palm oil industry:
- Indonesia is the world's top producer of palm oil after
overtaking Malaysia in 2007. Production is seen at about 23 to
25 million tonnes in 2012, according to industry estimates. Last
year, output was about 23 million tonnes and exports around 19
million. Global palm oil output is about 45 million tonnes.
- Sumatra, Kalimantan and Sulawesi are the main producing
areas for palm oil, used in products such as food, cosmetics,
tyres and biofuel.
- In 2012, it is estimated palm oil estates will cover 8.2
million hectares (20.3 million acres) of Indonesian land, up
100,000 to 200,000 hectares from the previous year.
- There is a limited pool of specialised labour available
for plantation work, and a skilled workforce is vital to boost
yields. It can take years to train people and Indonesian and
Malaysian planters are vying for the available workforce.
- Key ports exporting palm oil include Belawan in Medan and
Dumai in Riau. Belawan is the only port that has integrated
crude oil shipping infrastructure including storage tanks.
- Top importers of Indonesia's palm oil include India,
China, Europe, and Africa.
- The Indonesia Commodity & Derivative Exchange launched
its second palm oil futures contract <0#CPOTR:> in 2010, in the
hope of creating a local price benchmark and rival to the
well-established Malaysian futures contract.
- The industry faces pressure to improve practices and halt
deforestation blamed for accelerating climate change, damaging
watersheds and destroying wildlife. An Indonesian moratorium on
new permits to clear forests came into effect in May last year
for an initial two years.
- The Roundtable on Sustainable Palm Oil (RSPO) is an
industry body of consumers, green groups and plantation firms
that aims to promote the use of sustainable palm oil products
and backed by many major European palm oil buyers.
- Some palm oil producers have criticised the RSPO for being
too in favour of green groups, and Indonesia is now pushing on
with its own scheme, the mandatory Indonesia Sustainable Palm
Oil (ISPO).
Sources: Reuters, Indonesian Palm Oil Board, Indonesian
government data, Indonesian Palm Oil Association
(Reporting by Michael Taylor; Editing by Ed Davies)
Here are some facts on Indonesia's palm oil industry:
- Indonesia is the world's top producer of palm oil after
overtaking Malaysia in 2007. Production is seen at about 23 to
25 million tonnes in 2012, according to industry estimates. Last
year, output was about 23 million tonnes and exports around 19
million. Global palm oil output is about 45 million tonnes.
- Sumatra, Kalimantan and Sulawesi are the main producing
areas for palm oil, used in products such as food, cosmetics,
tyres and biofuel.
- In 2012, it is estimated palm oil estates will cover 8.2
million hectares (20.3 million acres) of Indonesian land, up
100,000 to 200,000 hectares from the previous year.
- There is a limited pool of specialised labour available
for plantation work, and a skilled workforce is vital to boost
yields. It can take years to train people and Indonesian and
Malaysian planters are vying for the available workforce.
- Key ports exporting palm oil include Belawan in Medan and
Dumai in Riau. Belawan is the only port that has integrated
crude oil shipping infrastructure including storage tanks.
- Top importers of Indonesia's palm oil include India,
China, Europe, and Africa.
- The Indonesia Commodity & Derivative Exchange launched
its second palm oil futures contract <0#CPOTR:> in 2010, in the
hope of creating a local price benchmark and rival to the
well-established Malaysian futures contract.
- The industry faces pressure to improve practices and halt
deforestation blamed for accelerating climate change, damaging
watersheds and destroying wildlife. An Indonesian moratorium on
new permits to clear forests came into effect in May last year
for an initial two years.
- The Roundtable on Sustainable Palm Oil (RSPO) is an
industry body of consumers, green groups and plantation firms
that aims to promote the use of sustainable palm oil products
and backed by many major European palm oil buyers.
- Some palm oil producers have criticised the RSPO for being
too in favour of green groups, and Indonesia is now pushing on
with its own scheme, the mandatory Indonesia Sustainable Palm
Oil (ISPO).
Sources: Reuters, Indonesian Palm Oil Board, Indonesian
government data, Indonesian Palm Oil Association
(Reporting by Michael Taylor; Editing by Ed Davies)
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