Indonesia remains world’s top palm oil producer till 2020
Indonesia will maintain its status as the world’s number one palm oil producer by 2020 and beyond thanks to its wider planted area than its strongest rival Malaysia, according to global business consultancy Frost & Sullivan.
Indonesia will maintain itsstatus as the world’s number one palm oil producer by 2020 and beyondthanks to its wider planted area than its strongest rival Malaysia,according to global business consultancy Frost & Sullivan.
According to the company, Indonesia’s palm tree growing area rose 6.7percent to 420,000 ha a year while the area in Malaysia expanded by 3.5percent or 150,000 ha a year.
Indonesia and Malaysiaare the world’s two biggest palm oil producers and exporters, yieldingrespective outputs of 29-30 million tones and 19-20 million tonnes in2014.
Frost & Sullivan predicted thatIndonesia’s palm oil output will grow 7.8 percent on average in2011-2020, compared with the world’s rate of 5.9 percent and Malaysia’s2.7 percent.
Around 49 percent of Indonesia’s palmtrees is still immature and yo෴ung, aging under eight years old,promisingly helping the country maintain its domination in palm oilsupply in the world, at least by 2020.-VNA
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