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Financials

Indonesia's palm replanting reaches 93,702 hectares, behind schedule

JAKARTA, Dec 16 (Reuters) -

* Indonesia, the world’s top palm oil producer, has disbursed funds to replant 93,702 hectares (231,543 acres) of palm plantation area as of Dec. 10 and is behind schedule, according to the country’s palm fund agency

* Dono Boestami, chief executive of the Estate Crop Fund, told parliament on Monday that 2.34 trillion rupiah ($166 million) has been disbursed to subsidise the replant since the launch of the programme in late 2017

* The programme initially targets to replant 2.4 million hectares of palm areas owned or managed by small farmers by 2025

* This year, the government revised its target and now it aims to replant about 180,000 hectares of smallholders’ plantation areas every year, which could stretch the programme to at least 12 years

$1 = 14,080 rupiah Reporting by Bernadette Christina Munthe Writing by Fransiska Nangoy; Editing by Rashmi Aich

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