2021/22 Indonesia Palm Oil Exports Slashed

17.05.2022 10:49 "Agro Perspectiva" (Kyiv) — According to the report of the USDA Oilseeds: World Markets and Trade (May 2022), 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 facilities to accommodate future production.

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