Indonesia Raises 2022 Palm Oil Output
Indonesia’s crude palm oil output is expected to rise 2.6% next year to 51.01 MMT from a 2021 estimate of 49.71 MMT, according to the Estate Crop Fund.
In 2022, exports are expected to increase to 27.9 MMT versus 27.08 MMT for 2021. Domestic demand is forecasted to increase to 11.4 MMT next year from an estimated 11.10 MMT in 2021.
Indonesia’s domestic use of crude palm oil for biodiesel is expected to reach 10.15 million kiloliters in 2022, up from an estimated 9.4 million kiloliters this year.
The government agency that collects export levies provided three price forecasts for the edible oil, from $747 per MT up to $1,094 per MT. It expects prices to normalize.
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