Indonesia: Oilseeds and Products Update
Post revises 2013/14 crude palm oil (CPO) production down by 500,000 metric tons (MT) to 30.5 million MT. Indonesian 2013/14 palm oil exports are revised upward from 20.4 million MT to 21 million MT. MY 2013/14 soybean production is revised upward to 675 thousand MT. Initial concerns for a strong El Nino weather phenomenon have subsided. The U.S. National Weather Service downgraded its confidence in a late 2014 El Nino event from 80 to 58 percent, noting that if an El Nino event does occur, it will be weak. As a result, 2014/15 palm oil and soybean production are unchanged.
