IOI plans sales expansion in Europe
Expects to export one-third of its output of crude and refined palm oil products to Europe next year.
25/05/05 Leading palm oil producer IOI Group Bhd expects growth potential for its exports to Europe, China and the United States in the coming years.
Group executive director Datuk Lee Yeow Chor said in an interview that his company expected to export one-third of its output, or 450,000 tonnes of crude and refined palm oil products, to Europe in the next year.
The rest will be destined for China and India, and smaller amounts to the US, which is a traditional soy oil consumer.
Palm oil is used in Europe mainly for edible oils and margarine as well as soaps, detergents and a smaller amount for biodiesel.
http://www.ioigroup.com/newsroom.cfm?id=52A22E17-510C-4410-85F6BED13A022CBD
