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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’s abundant forests provide primary raw materials for its growing export-oriented wood processing industry.
Rice area and production for 2019/20 are increased based on the latest data from the National Statistics Agency (BPS).
Weaker demand due to COVID-19 has reduced palm oil exports by 2 million tons.
This report updates the 2019 Agricultural Biotechnology Annual Report.