In Singapore, Olam believes a more severe than expected El Niño will negatively impact palm oil production in both Indonesia and Malaysia, helping to support prices. Increased demand from Indonesia’s higher biodiesel blending mandates are also expected to keep prices trending higher, which will help the company counteract some of the negative results the commodities giant suffered last year. It posted more than $45 million in losses for 2015, compared to a net profit of nearly 10 times that in 2014.
