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Indonesia's exports of CPO, its derivative products rise by 2.5 pct in 2014

Xinhua, January 30, 2015 Adjust font size:

The overseas shipment of Indonesia 's crude palm oil (CPO) and its derivative products last year grew 2.5 percent to 21.76 million tons despite falling prices, an association said here on Friday.

"It is not too good and not too bad," Secretary General of the Indonesian Palm Oil Association (GAPKI) Joko Supriono said at the association's headquarters here.

India, China, and the European Union were among the biggest customers of the commodity and its derivative products, said Joko.

Indonesia also shipped the commodity to the United States, Pakistan and the Middle East, he said.

The average price of CPO last year was 818.2 U.S. dollars per metric ton, down 2.8 percent from that of the previous year, said Joko.

The government's policy of cutting the export tax for the commodity to zero in the final quarter of last year also helped increase exports, according to him.

Indonesia is the world's largest exporter and producer of CPO, followed by neighboring Malaysia. Endi