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Mar 24, 2022REPORTIndonesia

Indonesian palm oil output, exports to hit record high in 2022-23

A USDA attache forecast puts Indonesian palm oil output at a record 46.0 million tonnes for 2022-23, up 500,000 tonnes. Exports are forecast to reach a record 30.0 million tonnes, supported by demand from China and India.

WHY IT MATTERS

A record Indonesian output and export forecast points to ample palm oil supply, which is bearish for palm oil prices despite the export taxes.

AFFECTSPalm Oil▼

SOURCE
grainpricenews.comMike VerdinMar 24, 2022

Price reaction & history

Palm Oil▼bearishSO FAR1d -1.1%5d -0.9%20d -4.0%

After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.

Aug 3, 2017Indonesia's palm oil exports to hit record in 2017-2018 | Agrifish | POST Online Media-0.6%
May 12, 2021USDA sees uptick in Indonesia's palm oil exports in 2021-22+4.2%
Jul 8, 2022China's palm oil imports to avoid 17-year low, with soy imports to exceed forecasts too - Grain Price News-8.7%
Oct 5, 2026Malaysian palm oil stockpiles hit record amid output surge | The Straits Times+1.3%
Apr 29, 2019Malaysian palm oil output likely to be higher in 2019 - The HinduBusinessLine-7.8%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Palm Oil PALMOIL · GP ▸

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