USDA attache sees Indonesia 2023/24 palm oil production at 46 million T

Following are selected highlights from a report issued by the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service post in Jakarta:

“Indonesia palm oil production for 2023/24 is forecast at 46 million metric tons (MMT), an increase of 3% from the previous year. Weather agencies are forecasting a developing El Nino weather pattern in the second half of 2023 that might bring on severe dryness. Soybean imports are expected to rise to 2.65 MMT for 2023/24 on continued rising demand from the soybased food industry.”

To read the full report, click: https://bit.ly/3yWe98p
Source: Reuters (Reporting by Julie Ingwersen in Chicago; Editing by Tom Hogue)