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- (-) Oilseeds (excl. soybean)
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Indonesia extended its B30 mandate, which requires biodiesel to contain 30 percent palm oil-based fuel, to 2022. Palm oil exports for 2021/22 are forecast to increase 13 percent and soybean meal imports are estimated higher than previously expected.
The Ministry of Agriculture (MOA) has issued a new regulation requiring Import Recommendations for soybeans, however implementation may depend on corresponding regulations from the Ministry of Trade (MOT).
Favorable weather, increased use of fertilizer, and surging prices are expected to push Indonesia’s palm oil production and exports to record highs 2021/22.
To stabilize rising soybean prices the Ministry of Agriculture (MOA) has put forth a three-phase plan that includes: “market operations” whereby importers would be required to sell soybeans...