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Indonesia's palm oil exports to hit record in 2017-2018

Staff Writer |
Indonesian palm oil exports will hit a record, lifted by better-than-expected production, and a boost to demand from the spring retreat in prices.

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The U.S. Department of Agriculture's Jakarta bureau hiked to 26.5m tonnes its forecast for palm oil exports in 2017-18, on an October-to-November basis, a figure 1.0m tonnes above the USDA's official estimate.

The upgraded figure would represent the highest exports on record from Indonesia, the top palm oil shipper and producer, eclipsing the 25.96m tonnes shipped in 2014-15.

However, the bureau flagged a strong start to calendar 2017 for exports, besides a boost to supplies from production expected to beat earlier expectations.


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