Global Markets: Indonesian palm oil exports slashed
Soybean
RBD Palm Oil
Published May 15, 2022
Tridge summary
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.
Original content
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 facilities to accommodate future production. Kazakhstan Soybeans and Soybean Oil Added to the USDA Database Soybeans and soybean oil have been added to the USDA database for Kazakhstan starting in marketing year 2006/07. In 2022/23, Kazakhstan is forecast to produce more than 200,000 tons of soybeans for the tenth consecutive ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.