Thursday, November 12, 2009

Breaking News-RTRS-INTERVIEW-Turkey's palm oil demand to soar as population grows

KUALA LUMPUR, Nov 11 (Reuters) - Turkey will double its palm oil purchases in the next ten years to a million tonnes as domestic sunflower oil production struggles to keep pace with the growing population, an industry official said on Wednesday.
Muslim Turkey sources 500,000 tonnes of refined palm olein yearly from Malaysia for its booming confectionery and margarine industries as the vegetable oil is seen as cleaner then animal fats.
Palm oil accounts for about a third of Turkey's total vegetable oil demand of 1.6 million tonnes and that share could rise if less fat-saturated varieties come into the market, Metin Yurdagul, chairman of the country's Kitchen Products and Margarine Industrialists Association, said.