Indonesia signs 130-mln-USD palm oil contract with Egypt

JAKARTA, March 14 (Xinhua) -- Indonesian firms signed on Thursday contracts worth 130 million U.S. dollars to supply palm oil to Egypt, a senior Indonesian official said.

Indonesia's state-run plantation firm of PTPN III and private firm Chita Agri Indonesia will supply up to 16,000 and 5,000 metric tons respectively each month to Egyptian importer firm Oleo Misr, said Arlinda, director general of National Export Development at the Ministry of Trade.

"Indonesia's palm oil export to Egypt tends to grow every year. Through our close relations with Egypt, we are optimistic about more opportunities in the Egyptian market," she said.

The MoU is highly expected to open more market for Indonesian palm oil commodities in African countries through Egypt, Arlinda said.