Breaking News-RTRS-UPDATE 1-Indonesia says to limit palm oil exports in 2015

JAKARTA, Feb 8 (Reuters) - Indonesia, the world's number one palm oil producer, plans to limit exports of the tropical oil to encourage the development of higher-value, refined products, the industry minister said on Monday.
Palm oil exports will be limited to not more than 50 percent of output in 2015, and to 30 percent of output in 2020, the minister said.
The Indonesian Palm Oil Association (GAPKI) has forecast that exports will rise 16 percent this year to 18 million tonnes, following a 12 percent increase last year.