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- (-) February 2023
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On February 6, the Government of Indonesia (GOI) announced it would suspend two-thirds of palm oil exports in order to shore up domestic cooking oil supplies ahead of Ramadan and Eid festivities.
Indonesia 2022/23 palm oil consumption is expected to rise to 19.4 million metric tons (MMT) on increased use for biodiesel production, as the Government of Indonesia (GOI) rolls out higher blending rates for its 2023 mandatory biodiesel blending program.
Indonesia coffee production is expected to decline by 400,000 bags due to late onset of the rainy season in lowland producing areas of Sumatera.
Weakening domestic and international demand as a result of the Covid-19 pandemic has significantly impacted palm oil consumption and exports.