# Indonesia’s crude palm oil exports to drop further as more palm oil goes to biodiesel - Opinion

> GAPKI expects Indonesia's palm oil exports to keep falling in 2023 after exports dropped 8.5% to 30.8 million tons in 2022. Higher domestic biodiesel consumption and a slight output decline contributed to the drop. The B35 blend is scheduled to rise to 35% in February.

- Date: 2023-02-05 · published 2023-02-05T12:00:00.000Z
- Category: report · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/15758-indonesia-s-crude-palm-oil-exports-to-drop-further-as-more-palm-oil-goes-to
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower Indonesian export volumes tighten global palm oil supply, supporting prices. Rising biodiesel absorption shifts more output domestically, reinforcing the bullish supply outlook.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-02-04 | [Indonesia's palm oil-powered 'green diesel' fuels threat to forests](https://feedsoft.ai/events/48507-indonesia-s-palm-oil-powered-green-diesel-fuels-threat-to-forests.md) | +8.2% | +14.4% |
| PALMOIL | 2017-04-07 | [Palm oil production and exports decline in Indonesia - Biofuels International Magazine](https://feedsoft.ai/events/71387-palm-oil-production-and-exports-decline-in-indonesia-biofuels-international.md) | -3.7% | -2.7% |
| PALMOIL | 2020-01-17 | [Palm oil rally sparked by growing biodiesel use in Malaysia and Indonesia](https://feedsoft.ai/events/54957-palm-oil-rally-sparked-by-growing-biodiesel-use-in-malaysia-and-indonesia.md) | -0.0% | -10.8% |
| PALMOIL | 2024-01-16 | [Indonesia’s 2024 palm oil exports seen down 4% on year – statement](https://feedsoft.ai/events/15677-indonesia-s-2024-palm-oil-exports-seen-down-4-on-year-statement.md) | -0.2% | -1.4% |
| PALMOIL | 2022-12-07 | [Indonesia's palm oil exports to hit record high, despite production shortfall - Grain Price News](https://feedsoft.ai/events/15771-indonesia-s-palm-oil-exports-to-hit-record-high-despite-production-shortfall.md) | -4.9% | -0.3% |
| SBO | 2020-01-17 | [Palm oil rally sparked by growing biodiesel use in Malaysia and Indonesia](https://feedsoft.ai/events/54957-palm-oil-rally-sparked-by-growing-biodiesel-use-in-malaysia-and-indonesia.md) | -3.1% | -7.4% |
| SBO | 2024-01-16 | [Indonesia’s 2024 palm oil exports seen down 4% on year – statement](https://feedsoft.ai/events/15677-indonesia-s-2024-palm-oil-exports-seen-down-4-on-year-statement.md) | -0.6% | -1.7% |
| SBO | 2022-12-07 | [Indonesia's palm oil exports to hit record high, despite production shortfall - Grain Price News](https://feedsoft.ai/events/15771-indonesia-s-palm-oil-exports-to-hit-record-high-despite-production-shortfall.md) | -1.4% | -5.2% |

## Sources

- mysinchew.sinchew.com.my: https://mysinchew.sinchew.com.my/news/20230205/mysinchew/4444262

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