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Article: Palm Oil Could Tighten Because Of Further Troubles in Indonesia.(Industry Overview)(Statistical Data Included)
- Article from:
- Chemical Market Reporter
- Article date:
- September 20, 1999
- Author:
CopyrightCOPYRIGHT 1999 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE PALM OIL market has been soft, but increased demand from India and continued uncertainty surrounding Indonesia may strengthen pricing throughout the rest of the year, particularly as production begins its seasonal decline.
Prolonged droughts and haze from forest fires that plagued Southeastern Asia during the past few years have subsided, and oil palms in Malaysia and Indonesia, the two largest palm oil producing nations, have recovered.
As a result, USDA expects world palm oil production for the 1999-2000 marketing year to reach a record 20.6 million metric tons, up from 19.27 million metric tons in the previous year, reflecting recoveries by both ...