Indonesia: Oilseeds and Products Annual
Palm oil production estimates for 2015/16 remain unchanged at 33 million metric tons. Assuming the return of normal weather conditions, Post expects 2016/17 palm oil production to recover to 33.5 million metric tons. Post’s estimate for 2015/16 consumption remains at 9.42 million metric tons. 2016/17 industrial consumption is expected to grow to 3.5 million metric tons, (led by biodiesel). Total consumption is thus expected to reach 9.62 million metric tons. 2015/16 soybean production is expected to decline back to 600,000 metric tons, as Indonesian weather conditions return to normal and farmers plant corn and rice in place of soybean. 2016/17 soybean production is expected to remain stable at 600,000 metric tons, with Post noting no significant policy changes that would significantly change soybean production. Indonesia’s National Statistical Agency (BPS) continues to report declining area planted to coconut. Post therefore expects copra production to fall to 1.59 million metric tons in MY 2015/16 and 1.58 million metric tons in MY 2016/17.
