off-the-wire

USDA attache sees Indonesia 2023/24 palm oil production at 46 million T

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 20 (Reuters) - Following are selected highlights from a report issued by the U.S. Department of Agriculture's (USDA) Foreign Agricultural Service post in Jakarta:


"Indonesia palm oil production for 2023/24 is forecast at 46 million metric tons (MMT), an increase of 3% from the previous year. Weather agencies are forecasting a developing El Nino weather pattern in the second half of 2023 that might bring on severe dryness. Soybean imports are expected to rise to 2.65 MMT for 2023/24 on continued rising demand from the soybased food industry."


To read the full report, click: (Reporting by Julie Ingwersen in Chicago; Editing by Tom Hogue)

Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.