# Palm drops 5% for second day as Indonesia cuts reference price - Markets - Business Recorder

> Malaysian palm oil futures fell more than 5% for a second straight session after Indonesia lowered its crude palm oil reference price and raised the export-to-domestic sales ratio from seven to nine times. The changes lower Indonesia's export duty and make its palm oil more competitive against Malaysian supply. Weakness in soybean oil and broader recession fears also weighed.

- Date: 2022-08-02 · published 2022-08-02T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/40139-palm-drops-5-for-second-day-as-indonesia-cuts-reference-price-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower Indonesian export duty and a higher export quota increase palm oil export availability, pressuring global palm oil and related vegetable oil prices.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-05-15 | [Indonesia sets May 16-31 crude palm oil reference price at $893.23/t - Markets - Business Recorder](https://feedsoft.ai/events/15733-indonesia-sets-may-16-31-crude-palm-oil-reference-price-at-893-23-t-markets.md) | -2.2% | -9.8% |
| PALMOIL | 2023-01-31 | [Palm drops 3% as Indonesia keeps domestic sale rule - Markets - Business Recorder](https://feedsoft.ai/events/37901-palm-drops-3-as-indonesia-keeps-domestic-sale-rule-markets-business-recorder.md) | -1.0% | +1.3% |
| PALMOIL | 2022-07-07 | [Palm falls for fifth day on recession woes, Indonesia’s export rules - Markets - Business Recorder](https://feedsoft.ai/events/4991-palm-falls-for-fifth-day-on-recession-woes-indonesia-s-export-rules-markets.md) | -4.4% | -6.4% |
| PALMOIL | 2026-01-19 | [Palm slips on China tariff cut, Indonesia B50 cancellation - Markets - Business Recorder](https://feedsoft.ai/events/21160-palm-slips-on-china-tariff-cut-indonesia-b50-cancellation-markets-business.md) | +1.9% | +4.4% |
| PALMOIL | 2025-01-08 | [Palm fell on export concerns, Indonesia’s biodiesel plans - Markets - Business Recorder](https://feedsoft.ai/events/6540-palm-fell-on-export-concerns-indonesia-s-biodiesel-plans-markets-business.md) | +1.2% | +1.1% |
| SBO | 2023-01-31 | [Palm drops 3% as Indonesia keeps domestic sale rule - Markets - Business Recorder](https://feedsoft.ai/events/37901-palm-drops-3-as-indonesia-keeps-domestic-sale-rule-markets-business-recorder.md) | -3.9% | -2.6% |
| SBO | 2026-01-19 | [Palm slips on China tariff cut, Indonesia B50 cancellation - Markets - Business Recorder](https://feedsoft.ai/events/21160-palm-slips-on-china-tariff-cut-indonesia-b50-cancellation-markets-business.md) | +1.7% | +6.7% |
| SBO | 2021-05-19 | [Palm slips 3.5pc on higher export tax reference price, weaker rivals - Markets - Business Recorder](https://feedsoft.ai/events/46979-palm-slips-3-5pc-on-higher-export-tax-reference-price-weaker-rivals-markets.md) | -1.2% | -7.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40189578

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