Palm output seen rebounding in 2017 as Malaysia increases CPO export duty

摘要

Indonesia's palm oil production may recover to 35.5 M tonnes in 2017 after dropping 3% to 31.5 M tonnes in 2016 due to the delayed effect of El Nino, according to the Indonesian Palm Oil Association's secretary-general. The 2016 output decline is the country's first since the 1997-1998 crop season. Palm oil prices increased by 25% in 2016 due to reduced production and low inventories. High rainfall in 2016 may boost production in 2017, with overall output, including palm kernel oil, expected to reach 38.7 M tonnes.