Indonesia slashes palm oil export estimate
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Indonesia, currently the world's largest palm oil producer, is expecting sluggish growth of palm oil exports due to China's slow economic growth and the ongoing economic uncertainty in Europe, according to the nation's palm oil association.
The Indonesian Palm Oil Producers Association (Gapki) had earlier estimated total palm oil export shipments at 18 million tonnes, up by 2.2 per cent from 17.6 million tonnes in 2011.
However, Gapki’s marketing head Susanto said that the association had altered the palm oil export estimate to 17.6 million by the end of this year, down by 2.2 percent to the earlier estimation.
