Global Markets: Indonesian palm oil exports slashed

Published 2022년 5월 14일

Tridge summary

Indonesia's palm oil exports for marketing year 2021/22 have decreased to a 12-year low of 25.0 million tons due to slow export pace and various export policies. The cumulative shipments from October 2021 to March 2022 declined by over 30 percent compared to the previous marketing year. Meanwhile, Kazakhstan has added soybeans and soybean oil to the USDA database and is forecasted to produce over 200,000 tons of soybeans for the tenth consecutive year. Kazakhstan's soybean meal, which is used in livestock and poultry feed, is consumed domestically and exported to nearby markets, while soybean oil consumption has been on the rise and has been exported in substantial quantities to Uzbekistan.

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Original content

Marketing year 2021/22 (October to September) Indonesia palm oil exports are lowered 3.0 million tons this month, down to a 12-year low of 25.0 million tons. The forecast is reduced on Indonesia’s slow export pace through the first 6 months of MY 2021/22 and various palm oil export policies in effect since November 2021. Although the Government of Indonesia implemented a palm oil export ban on April 28, 2022, industry sources expect it to be short-lived and therefore have a limited impact on trade. Cumulative shipments from October 2021 to March 2022 declined over 30 percent compared to the same period in MY 2020/21. Exports plunged after export taxes increased in November 2021. This reduced pace is expected to continue into May as Indonesia continues its restrictive export policies. A stronger export pace is anticipated for the remainder of the marketing year. The current slow pace of exports is leading to a build-up of supplies that will need to be cleared from storage ...

Source: Agfax