JAKARTA (Yosefardi) – The government of Indonesia mulls to stop exporting crude palm oil (CPO) to Europe starting next year amid increasing domestic consumption.
The consumption of biofuel industry jumps by almost 70% to 5 million tons next year, from 3 million tons this year.
In 2014, state oil and gas company Pertamina will by 3 million tons of CPO for converting biofuel into fuel. While state utility firm PT Perusahaan Listrik Negara (PLN) will buy 2 million tons of CPO for power plant.
This year, export of CPO to Europe totals 2.5 million tons. Domestic CPO producers might produce total CPO production of 27-28 million tons this year.