Thursday, August 27, 2009

Breaking News-RTRS-Indonesia July palm oil exports up 4 pct on China buying

JAKARTA, Aug 26 (Reuters) - Indonesia shipped out 1.09 million tonnes of palm oil products in July, a rise of 4 percent from a year ago, driven by exports to China and the United States, estimates from an industry group showed on Wednesday.
The world's biggest palm oil producer exports palm oil products mainly to India, Europe and China. More than half of Indonesia's palm oil exports are in the forms of crude palm oil, whereas rival Malaysia sells mostly higher-value, refined products.
Data compiled by the Indonesian Palm Oil Association (GAPKI) showed that exports fell in July from June, when 1.18 million tonnes were shipped out, mainly because of lower exports to Bangladesh, India and China.