Indonesia: Oilseeds and Products Update
Post reduces MY 2015/16 production estimates to 32 million metric tons (MMT), following the 2015 El-Nino weather event that resulted in drought in key production areas. A La Nina event is expected to bring higher than normal levels of rainfall in MY 2016/17, helping palm oil production recover to 33.5 MMT. Indonesia's biodiesel program is driving industrial domestic consumption and is expected to grow to 3.5 MMT, bringing total consumption to 9.62 MMT in MY 2016/17. Soybean production is expected to remain unchanged at 600 thousand MT in MY 2016/17.
