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ANTARA - 2 hours 31 minutes
Business Predicted Oil Will Clear Riau 2011
Indonesia, Pekanbaru (ANTARA) - The prospect of the business of oil palm in Riau Province in 2011 predicted to be bright because it was triggered increased demand for palm oil exports and rising crude oil prices in global markets.
"The prospect of oil palm in Riau during the year 2011 predicted to be very promising," said Head of Processing and Marketing of Plantation Plantation Office Riau Province, Ferry HC, told ANTARA in Pekanbaru, on Thursday.
He explained that the export demand for crude palm oil (CPO), the world is estimated to rise to 15 million metric tons this year. This is an opportunity for the country's largest oil producer in the world, namely Indonesia and Malaysia.
Meanwhile, Riau oil palm plantation with an area of about 2 million hectares is the largest oil producing region with a contribution of around 35 percent nationally. In 2010, he continued, the number of CPO exports from Riau reach about 7 million metric tons.
The main export destinations for commodities CPO of Riau are China, India and Pakistan.
"Now it was just how we optimize the opportunities that exist," he said.
In addition, Ferry said the prospect of oil business will experience a positive trend because it pushed world crude oil prices which had touched 90 dollars per barrel. With the increase in oil prices, he added, most developing countries will increase demand for palm oil to alternative energy materials.
"Positive trends of CPO will result in improving the welfare of farmers," said Ferry.
Based on data from the Riau Plantation Office, palm oil prices rise high enough in the beginning of 2011 the average reached Rp109 per kilogram (kg). Meanwhile, the CPO price at the local level to reach Rp8.922, 44 per kg and the kernels reach Rp6.402, 12 per kg.
"The price of oil likely will continue to rise at the beginning of 2011 due to export demand increases by the higher crude oil prices," he said.
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