# World's top soyoil exporter says record prices a mixed blessing - MyJoyOnline

> Argentina, the largest soyoil exporter, is unlikely to fully benefit from record soyoil prices because of drought, a recent export tax hike to 33%, and subsidies that keep domestic prices low. Soyoil hit a record after Indonesia's palm oil export ban.

- Date: 2022-04-24 · published 2022-04-24T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/14043-world-s-top-soyoil-exporter-says-record-prices-a-mixed-blessing-myjoyonline
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Record global soyoil prices lift international benchmarks, but Argentina's export taxes and domestic subsidies limit the upside for Argentine exporters.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-03-14 | [Top Exporter of Soy Meal, Oil Halts Cargoes as Prices Surge - Bloomberg](https://feedsoft.ai/events/12629-top-exporter-of-soy-meal-oil-halts-cargoes-as-prices-surge-bloomberg.md) | -9.8% | +240.8% |
| SBO | 2022-04-22 | [Soyoil surges to record high as Indonesia bans palm oil exports](https://feedsoft.ai/events/14040-soyoil-surges-to-record-high-as-indonesia-bans-palm-oil-exports.md) | +3.2% | -4.4% |
| SBO | 2023-04-12 | [Drought, Biodiesel Impacting Soyoil Prices, Exports - Pro Farmer](https://feedsoft.ai/events/15318-drought-biodiesel-impacting-soyoil-prices-exports-pro-farmer.md) | +0.8% | -3.3% |
| 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 | 2021-06-03 | [Govt considering edible oil import tax cut to lower prices, says report \| Commodity - Food & Edible Oils - Business Standard](https://feedsoft.ai/events/6355-govt-considering-edible-oil-import-tax-cut-to-lower-prices-says-report.md) | +2.9% | -8.3% |
| PALMOIL | 2022-04-22 | [Soyoil surges to record high as Indonesia bans palm oil exports](https://feedsoft.ai/events/14040-soyoil-surges-to-record-high-as-indonesia-bans-palm-oil-exports.md) | +1.1% | -2.1% |
| 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 | 2021-06-03 | [Govt considering edible oil import tax cut to lower prices, says report \| Commodity - Food & Edible Oils - Business Standard](https://feedsoft.ai/events/6355-govt-considering-edible-oil-import-tax-cut-to-lower-prices-says-report.md) | -3.8% | -10.1% |

## Sources

- myjoyonline.com: https://www.myjoyonline.com/worlds-top-soyoil-exporter-says-record-prices-a-mixed-blessing/

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