Indonesia 10% increase palm oil production
Due to the increase in acreage under oil palm, Indonesia in 2017 will be able to 10% to increase production of palm oil.
this year, palm oil production in Southeast Asia is expected to reach 30-32 million tons, will be lower than in 2015, when it produced 35.5 million tons of oil. This reduction in production caused by the lingering effect of a natural phenomenon El niño, which in April brought to the region hot and dry weather.
the Growth of palm oil production in 2017 might put pressure on world prices, which this year increased by 25% due to fears of shortage of supply of this product.
higher prices for palm oil have resulted in increased prices for soybean and sunflower oil, which rose to the level
- sunflower Oil Ukraine 775 $/t FOB with delivery in December.
- sunflower Oil Russia 765 $/t FOB with delivery in December.
- Oil, soybean EU-880 Euro/ton FOB ex-mill December delivery.
- Oil, soybean 809,98 US $/ton.