# Fitch Solutions: Global palm oil market to record narrow deficit in 2022/2023 | Malay Mail

> Fitch Solutions expects the global palm oil market to run a narrow 100,000-tonne deficit in 2022/23, the first annual net deficit since 2015/16. The deficit is driven by Indonesia's higher biofuel blending mandate, which it projects will cut Indonesian exports. Fitch keeps its RM3,800 per tonne 2023 price forecast with upside risks.

- Date: 2023-03-02 · published 2023-03-02T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/36963-fitch-solutions-global-palm-oil-market-to-record-narrow-deficit-in-2022-2023
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A tighter global balance from Indonesian biodiesel demand reduces export supply and supports palm oil prices. Feed buyers should expect firm vegetable oil prices through 2023.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-01-11 | [Tight palm oil supplies to support prices in 2024: MPOB \| S&P Global](https://feedsoft.ai/events/32228-tight-palm-oil-supplies-to-support-prices-in-2024-mpob-s-and-p-global.md) | +1.5% | +0.2% |
| PALMOIL | 2021-01-05 | [Malaysian palm oil stocks forecast lower, keeping prices high in 2021 - Markets - Business Recorder](https://feedsoft.ai/events/4995-malaysian-palm-oil-stocks-forecast-lower-keeping-prices-high-in-2021-markets.md) | +1.3% | -10.0% |
| PALMOIL | 2019-11-01 | [Malaysian palm oil production to drop slightly in 2020, pushing the price upward, says expert \| Malay Mail](https://feedsoft.ai/events/4290-malaysian-palm-oil-production-to-drop-slightly-in-2020-pushing-the-price-upward.md) | +12.8% | +16.7% |
| 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% |
| PALMOIL | 2023-03-27 | [Malaysia: Boost in demand for palm oil seen on supply recovery](https://feedsoft.ai/events/36955-malaysia-boost-in-demand-for-palm-oil-seen-on-supply-recovery.md) | +1.1% | -1.9% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2023/03/02/fitch-solutions-global-palm-oil-market-to-record-narrow-deficit-in-20222023/57560

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