01 May 2007

N Sumatra earns $389 million from CPO exports

North Sumatra province in the first quarter of 2007 earned US$389.546 million from exporting crude palm oil and by-products compared with US$307.387 million in the same period a year earlier.

Despite the rise in export value, the province`s export of CPO and by-products fell in volume to 348,070 tons in the first three months of 2007 from 928,859 tons in the same period last year, spokesman of the North Sumatra industry and trade office Fitria Kurnia said on Monday.

She said the increase in export value was attributed to the rising sales prices on the global market.

"Despite the drop in export volume in the first quarter of 2007, it is believed export of CPO and by-products this year will remain high due to rising demand for palm oil in the global market," she said.

CPO and by-products remained the province`s top foreign exchange earner among its agricultural products, she said.

North Sumatra`s CPO and by-products went to the Netherlands, Pakistan, India, Jordan, Germany, China, Spain and Singapore.

Source: antara