North Sumatra's Exports Of Edible Oils Decline

Medan, N Sumatra  (Antara Bali) - North Sumatra's earning from the exports of animal and vegetable fats and oils  declined 18 percent in the first five months of the year  to US$1,322 million from US$1,613 million in the same period last year.

Exports of edible oils and fats were dominated by crude palm oil (CPO).

Head of the provincial office of the Central Board of Logistics (BPS) Wien Kusdiantmono said the decline was caused mainly by falling prices of the commodities.

Altogether, North Sumatra's earning  from the exports of its main commodities, including, rubber and tobacco , fish and shrimps, decline  in the January-May period, Wien said here on Saturday.

Exports also fell in volume on weak demand amid the global crisis, he added.

Chairman of the Indonesian Palm Oil Council  Derom Bangun predicted the exports of palm oil would fall further in volume and price.

Greek debt crisis could bring about worse condition to the global economy , he said.

Until May, 2015, exports of animal and vegetable oils and fats  to China , the country's major buyer of the commodities plunged 69 percent to US$88.3 million.

Exports of the same commodities to Russia also shrank 40 percent to US$68.86 million, Derom Bangun said.

"It is difficult to predict the market amid the global economic slowdown," he said. (WDY)