Indonesia's February palm oil exports hit 4-month high on tax cut

Published Mar 17, 2025

Tridge summary

Indonesia's palm oil exports experienced a 62.2% increase in February compared to the previous month, reaching a four-month high of 2.06 million metric tons. This surge is largely due to the country's decision to reduce export taxes, making its palm oil prices more appealing and attracting buyers away from Malaysia. As a result, Malaysia's palm oil exports saw a 16.27% decrease in the same period. The rise in exports is expected to help decrease stockpiles and support high prices for palm oil, despite the higher cost compared to soybean oil.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

JAKARTA/MUMBAI, March 17 (Reuters) - Indonesia’s crude and refined palm oil exports rose 62.2% in February from the previous month to a four-month high, the statistics bureau said on Monday, as Jakarta’s decision to cut export taxes attracted buyers from Malaysia. Higher palm oil exports from Indonesia, the world’s biggest producer of the tropical oil, will help reduce stockpiles and support prices that are currently at a premium to rival soybean oil. Indonesia exported 2.06 million metric tons of crude and refined palm oil in February, the most since October, bureau data showed. Exports rose 45.1% from February 2024. The bureau data excludes palm kernel oil, oleochemicals and biodiesel. Indonesia’s palm oil association, GAPKI, usually releases its own data at a later date, which covers more products and therefore has different export figures. A reduction in export taxes, which resulted in Indonesian palm oil prices falling below Malaysian levels, boosted exports in February, ...

Source: NoticiasAgricolas