Exports plummet as El Nino hits Indonesian palm oil production

Exports plummet as El Nino hits Indonesian palm oil production

Exports of palm oil from Indonesia hit a two-year low as domestic demand increased, according to a report published by Bloomberg.

Exports, including palm and kernel oils, fell 22 percent to 1.97 million metric tons in January, compared to 2.51 million metric tonnes in December, 2015 – the biggest decline since April 2014.

Domestic biodiesel producers are purchasing more amid fears over a decline in production, caused by El Nino. Yield has already been affected by dry weather and a lack of fertilizer used by smallholders in the latter half of last year.

 

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