According to a recent report by the US Department of Agriculture’s attaché in Jakarta, Indonesia’s palm oil production for the 2020-21 marketing year is expected to grow by just 1m tonnes despite a significant increase in the planted area from 14.67m hectares to 16.38m hectares.
The report blames the smaller-than-expected increase to 43.5m tonnes on the reduced use of fertilizers and pesticides towards the end of 2018 and during the first half of 2019. A depressed crude palm oil price during this time resulted in farmers cutting down on crop care to save costs, which is expected to affect the palm oil yield for the next 1-2 years.
We have added the USDA attaché’s estimates to our new Indonesia palm oil 2021 live forecast, which also includes consumption, export and ending stock projections.
For the previous year’s estimates, please consult our Indonesia palm oil 2020 live forecast.
Other live forecasts updated today:
Brazilian soybeans 2019-20
Brazilian corn 2019-20
Argentine wheat 2019-20
Argentine corn 2019-20
Ukraine corn 2019-20
Ukraine corn 2020-21
Ukraine wheat 2020-21
US corn 2019-20
US corn 2020-21
South Africa corn 2019-20