Posts Tagged ‘Economic’
China and India Still Need More Oil Palm
Global economic recovery helped spur the increase in demand for vegetable oil. Palm oil is now becoming increasingly popular because of cheap price and supply of lots. National oil producers an opportunity to increase exports while pushing the government to overcome practices that interfere with the image of Indonesia in the international market. India’s palm oil demand is expected to increase from 6.5 million tons in 2009 to 7.3 million tons this year. Similarly, China’s vegetable oil market analysts estimate the increase in welfare will trigger an increase in China’s palm oil imports at least 750,000 tons.
This condition makes Indonesia an opportunity to increase export volume of more wide open.This is supported by Malaysian palm oil production predicted to decline from 17.5 million tons in 2009 to 17.2 million tons due to replanting.
According to Oil World, the vegetable oil market research institute based in Germany, the world’s oil and fat consumption will reach 169 million tons in 2010. Palm oil plays 22.7 percent (45.9 million tons) and the highest growth of other vegetable oils for the last three years.
The increase in demand would have an impact on prices. However, palm oil prices moved down last week after the beginning of March fluctuated between 800 dollars and 850 dollars per ton in Rotterdam.
Japan Airlines Cut Flights in Asia
One of Asia’s largest airlines, Japan Airlines (JAL) will reduce air service in the Asian region due to the global economic crisis. According to the company, the number of flights back and forth in a day between Narita International Airport, the main gateway to Tokyo and Beijing, will be suspended for a week and between 1 to October 24. JAL will also reduce the weekly flights between Narita and Seoul from 28-21 times between July 1 until October 24. It will also be followed by Narita route to Taipei, Shanghai and New Delhi purposes. “Due to the impact of the recession, the demand for flights has been delayed and we plan to adjust capacity profabilitas securing our revenues,” said a spokesman for JAL.
The spokesperson also added that JAL will increase the number of flights back in the next period. International Air Transport Association last week said that the Asia Pacific region will lose U.S. $ 3.3 billion in 2009, or more than a third of the global crisis, and will return next year recuperating.
