International market of crude palm oil in 2011 is more prospective than predicted this year. Post-crisis recovery of the world economy which led India and China make crude palm oil (CPO) demand rose sharply.
Bitter rivalry between the consumption of food and energy also will be repeated as the year 2008 as the policy of some countries require that biodiesel beginning in 2010. The producers of crude palm oil (CPO) in Indonesia and Malaysia should take advantage of this momentum to boost production by responding to increased demand. This is sticking in the Indonesian Palm Oil Conference 2009 in Nusa Dua, Bali.
These predictions is the analysis of Thomas Mielke of Oil World (vegetable oil research institute based in Hamburg, Germany), Derom Bangun of Indonesian Palm Oil Council (DMSI), Ambono Janurianto of Bakrie Sumatera Plantation, and John Baker of Rabobank International.
Mielke said, the supply of vegetable oil since September 2009 until February 2010 is still limited so the price potential to increase in the next five weeks. Production of sunflower oil and canola are also weaker dependence on crude palm oil and soybeans increased.
Crude Palm Oil has now reached 56 per cent of world exports and record the highest market share growth of other vegetable oils. World crude palm oil market share grew from 11.4 million tons in 1990 to 46.6 million tons in 2009. According to Derom, January-February 2010 was a period of soaring crude palm oil demand, especially from India and China. Derom estimates, the CPO price in Rotterdam can range from 800-825 U.S. dollars per ton and 2,700 U.S. dollars per ton in Malaysia in the quarter I-2010.
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