# Soyoil surges to record high as Indonesia bans palm oil exports

> Soybean oil prices surged to a record high after Indonesia banned palm oil exports. Argentina had earlier briefly halted new overseas soyoil and meal sales in March and raised its export tax.

- Date: 2022-04-22 · published 2022-04-22T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/14040-soyoil-surges-to-record-high-as-indonesia-bans-palm-oil-exports
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Losing palm oil supply pushes buyers toward soyoil, lifting soyoil prices, while Argentina's export controls limit how much of the rally reaches global markets.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-04-28 | [Soy oil soars to record as Indonesia expands palm export ban](https://feedsoft.ai/events/41929-soy-oil-soars-to-record-as-indonesia-expands-palm-export-ban.md) | -2.7% | -7.3% |
| SBO | 2022-04-22 | [Indonesia bans palm oil exports as global food inflation spikes](https://feedsoft.ai/events/41928-indonesia-bans-palm-oil-exports-as-global-food-inflation-spikes.md) | +3.2% | -4.4% |
| SBO | 2022-04-25 | [Malaysia urges countries to prioritise food over fuel as Indonesia bans palm exports](https://feedsoft.ai/events/15830-malaysia-urges-countries-to-prioritise-food-over-fuel-as-indonesia-bans-palm.md) | +1.6% | -4.6% |
| SBO | 2023-01-01 | [Indonesia to tighten palm oil exports from January 1](https://feedsoft.ai/events/38337-indonesia-to-tighten-palm-oil-exports-from-january-1.md) | -1.9% | -6.7% |
| SBO | 2023-02-06 | [Indonesia to suspend some palm oil export permits - officials](https://feedsoft.ai/events/15756-indonesia-to-suspend-some-palm-oil-export-permits-officials.md) | -1.5% | -0.6% |
| PALMOIL | 2022-04-28 | [Soy oil soars to record as Indonesia expands palm export ban](https://feedsoft.ai/events/41929-soy-oil-soars-to-record-as-indonesia-expands-palm-export-ban.md) | +8.6% | -1.2% |
| PALMOIL | 2022-04-22 | [Indonesia bans palm oil exports as global food inflation spikes](https://feedsoft.ai/events/41928-indonesia-bans-palm-oil-exports-as-global-food-inflation-spikes.md) | +1.1% | -2.1% |
| PALMOIL | 2026-05-26 | [Oil palm fruit left to rot as Indonesia export revamp hits farmers](https://feedsoft.ai/events/19378-oil-palm-fruit-left-to-rot-as-indonesia-export-revamp-hits-farmers.md) | +0.4% | -1.6% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/soyoil-surges-record-high-indonesia-bans-palm-oil-exports-2022-04-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.