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April 9, 2014

Palm refining capacity to rise

April 9, 2014

Jakarta
Palm refining capacity in Indonesia is forecast to jump almost 50 percent this year, according to industry officials, a rise that would likely reduce crude palm oil (CPO) exports and provide a short-term boost to Malaysian benchmark prices.
The cut in exports would leave some Malaysian palm refiners short of feedstock, lifting prices as competition for CPO increases and trimming processing margins that are already relatively thin, analysts said.
Refinery capacity in the world’s top producer of palm oil is seen jumping to 45 million tons per annum by the end of 2014, up from 30.7 million tons last year and more than double the 21.3 million tons of 2012, according to Sahat Sinaga, executive director of the Indonesian Vegetable Oil Association.
“There would be more competition for CPO for sure and possibly less availability for Malaysian refiners and others to import it,” said Chris de Lavigne, global vice president of industrial practices at Frost & Sullivan.

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