Indonesia: Oilseeds and Products Update
Link to report:
Indonesia palm oil exports are estimated to decline to 26.5 million metric tons (MMT) in 2023/24 on lower output and weaker demand from key destination markets. Post revised down 2023/24 palm oil production to 45.6 MMT as 2023’s El Nino led to much lower yields than previously anticipated. Indonesia 2023/24 soybean production is also revised down to 360,000 metric tons on reduced government assistance for soybean production. Post revises 2023/24 soybean meal imports down to 5.65 MMT on weak demand from the poultry feed industry.
