REPUBLIKA.CO.ID, MEDAN -- North Sumatra's animal and vegetable oil exports have shown a steady increase and reached US$3.042 billion until September 2014, Head of North Sumatra's Statistics Central Agency (BPS), Wien Kusdiatmono, stated here on Friday (7/11).

"The export value of these products has increased by 4.62 percent as compared to US$2.908 billion recorded in the same period last year," he noted.

The increase in export value has led to an appreciation in foreign exchange by up to 42.86 percent.

In the meantime, Executive Secretary of the Indonesian Export Company of North Sumatra Sofyan Subang stated that the increase in the export value of palm oil and its derivative products is highly influenced by the hike in selling price.

Consequently, despite the decrease in export volume, the high selling price has stabilized North Sumatra's trade balance.

North Sumatra's foreign exchange of non-oil and gas exports until September 2014 has increased 0.13 percent as compared to that recorded in the same period last year.

In the meantime, the export value of rubber and its derivative products has shown a decline due to the falling selling price.

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