Browse Data and Analysis

On July 4, 2024, the Indonesian Quarantine Agency (IQA) notified the World Trade Organization (WTO) of their plans to issue a new regulation regarding Quarantine Documents and Seals under notification number G/SPS/N/IDN/149.

Indonesia palm oil exports are estimated to decline to 26.5 million metric tons (MMT) in 2023/24 on lower output and weaker demand from key destination markets. Post revised down 2023/24 palm oil production to 45.6 MMT as 2023’s El Nino led to much lower yields than previously anticipated.

Driven mainly by higher demand from feed mills, higher consumption of flour-based food during the consecutive religious festivities and general election, as well as demand for alternative staples cheaper than rice and trending flour-based foods, Indonesian wheat imports in 2023/24 are estimated to break record levels at 12.6 million metric tons (MMT).

Palm oil exports for 2021/22 are revised down to 25.5 million metric tons (MMT) on restrictive export policies and weaker global demand. The soybean subsidy program launched in April 2022 unexpectedly caused several importers to slowdown purchases. Feed mill demand for soybean meal continues to drive imports from South American origins.