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- (-) February 2024
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Post revised down Indonesia palm oil exports estimate to 27.9 million metric ton (MMT) on lower supplies, higher domestic use and expected reduced export demand for 2023/24. Palm oil use for the biodiesel industry is revised down to 12.3 MMT for 2023/24 on lower-than-expected biodiesel distribution in 2023.
In 2024, political uncertainty will continue to diminish, and GDP will grow between 1.25 and 2.25 percent due to a recovery in consumption. This will bring opportunities for U.S. exporters looking to ship products to Chile. Agricultural GDP grew firmly in the past three years, reaching $28.9 billion in 2023.
Indonesia’s Halal Product Assurance Agency (BPJPH) recently promulgated a new decree requiring imported products’ halal certificates issued by foreign halal certifying bodies be registered with BPJPH prior to the importation and distribution of the...