# Palm Oil Rises After Indonesia Raises Export Tax, Biodiesel Use

> Palm oil futures rose as much as 2.3% to RM4,266 a tonne after Indonesia raised its export tax to US$124 a tonne for the first half of September from US$74, and increased the domestic biodiesel allocation. Soybean oil retreated while Brent crude climbed.

- Date: 2022-08-30 · published 2022-08-30T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/15797-palm-oil-rises-after-indonesia-raises-export-tax-biodiesel-use
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A higher export tax and larger biodiesel blending demand tighten available palm supply for export, supporting palm oil prices.

## Read by commodity

- SBO: bearish ▼
- BRENT: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-02-06 | [Indonesia’s biodiesel thirst may weaken palm oil exports](https://feedsoft.ai/events/54503-indonesia-s-biodiesel-thirst-may-weaken-palm-oil-exports.md) | -2.7% | -11.2% |
| PALMOIL | 2021-06-29 | [Indonesia Revises Palm Oil Export Levy While Safeguarding Biodiesel Funding - Media Biodiesel](https://feedsoft.ai/events/46455-indonesia-revises-palm-oil-export-levy-while-safeguarding-biodiesel-funding.md) | +4.0% | +10.1% |
| PALMOIL | 2018-08-06 | [Global palm oil prices set to rise on Indonesia's biodiesel mandate](https://feedsoft.ai/events/63406-global-palm-oil-prices-set-to-rise-on-indonesia-s-biodiesel-mandate.md) | +1.8% | +0.9% |
| PALMOIL | 2024-02-28 | [Indonesia palm oil firms warn of food security risks as biodiesel use rises - Nikkei Asia](https://feedsoft.ai/events/9425-indonesia-palm-oil-firms-warn-of-food-security-risks-as-biodiesel-use-rises.md) | +3.1% | +9.0% |
| PALMOIL | 2022-07-17 | [Indonesia Waives Palm Oil Export Levy through 31 August 2022 - Media Biodiesel](https://feedsoft.ai/events/15805-indonesia-waives-palm-oil-export-levy-through-31-august-2022-media-biodiesel.md) | +1.7% | +10.1% |
| SBO | 2022-07-04 | [Palm oil extends losses as Indonesia mulls raising export quota](https://feedsoft.ai/events/4994-palm-oil-extends-losses-as-indonesia-mulls-raising-export-quota.md) | -4.8% | -6.1% |
| SBO | 2026-02-11 | [Indonesia biodiesel pause, rising output seen limiting palm oil gains \| Reuters](https://feedsoft.ai/events/15489-indonesia-biodiesel-pause-rising-output-seen-limiting-palm-oil-gains-reuters.md) | +1.8% | +9.0% |
| SBO | 2022-06-16 | [Laman Web Rasmi KPK - SAWIT: Indonesia cuts max palm oil export levy to US$200, but to rise in August](https://feedsoft.ai/events/15814-laman-web-rasmi-kpk-sawit-indonesia-cuts-max-palm-oil-export-levy-to-us-200-but.md) | -8.2% | -20.4% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2022/08/30/palm-oil-rises-after-indonesia-raises-export-tax-biodiesel-use/

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