The Impact of The Indonesia Palm Oil Ban
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The Indonesian government announced a ban on some Palm product exports 1 month ago to try and curb the surging domestic prices and low domestic stocks. The impact on export is straightforward as Palm Olein exports decreased ~694 kmt YoY between May 1st & 23rd. Palm Kernel Expeller & Palm Stearin also saw substantial exports decrease, losing 174 & 142 kmt respectively at the same time. Overall, Indonesia exported 1.28 Mmt fewer YoY for the period. Export prices during the ban continued rising as importers relied on Malaysia, which could not handle the demand fully. On Monday, May 23rd, 2022, the end of the export ban will alleviate some pressure on the Vegoils market.
Indonesia Palm Products Exports Between May 1st & 23rd 2022
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