Monday, 22 March 2010

Indonesia, Malaysia may stop palm oil exports to EU&US

Personal note: More nonsence being uttered by an increasingly desperate palm oil industry.

Indonesia, Malaysia may stop palm oil exports to EU&US

Monday, March 22, 2010 16:59 WIB Economic & Business

Jakarta (ANTARA News/Asia Pulse) - Indonesia and Malaysia have agreed to stop exports of crude palm oil (CPO) to Europe and the United States if negative campaigns against their commodity continue.

The European Union and the United States have accused Indonesia and Malaysia, which account for 85 per cent of the world\'s production of CPO, of destroying forests to make space for oil palm plantations.

Indonesian Agriculture Minister Suswono said a delegation will visit the European Union in May to explain the Indonesian position and counter the allegation. \"We (Indonesia and Malaysia) would see what would come afterward before deciding to stop exports,\" he said.

Business in Asia Today - March.22, 2010
published by Asia Pulse