# Indonesia bans palm oil exports as global food inflation spikes

> Indonesia announced a ban on palm oil exports effective April 28 to curb rising domestic cooking oil prices. Soybean oil rose 4.5% to a record 83.21 cents per pound on the Chicago Board of Trade.

- Date: 2022-04-22 · published 2022-04-22T12:00:00.000Z
- Category: policy · region Indonesia · magnitude high
- Page: https://feedsoft.ai/events/41928-indonesia-bans-palm-oil-exports-as-global-food-inflation-spikes
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Indonesia is the world's largest palm oil exporter, so the ban removes a major edible oil supply and pushes substitute oil prices sharply higher, with knock-on effects for feed fats and crush economics.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: neutral
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-04-22 | [Soyoil surges to record high as Indonesia bans palm oil exports](https://feedsoft.ai/events/14040-soyoil-surges-to-record-high-as-indonesia-bans-palm-oil-exports.md) | +1.1% | -2.1% |
| PALMOIL | 2021-08-27 | [Indonesia: Increased Export Tax on palm oil - Global Trade Alert](https://feedsoft.ai/events/45444-indonesia-increased-export-tax-on-palm-oil-global-trade-alert.md) | -1.4% | +1.9% |
| PALMOIL | 2022-04-28 | [Soy oil soars to record as Indonesia expands palm export ban](https://feedsoft.ai/events/41929-soy-oil-soars-to-record-as-indonesia-expands-palm-export-ban.md) | +8.6% | -1.2% |
| PALMOIL | 2019-09-25 | [Indonesia halts export levy on crude palm oil amid global price drops](https://feedsoft.ai/events/56961-indonesia-halts-export-levy-on-crude-palm-oil-amid-global-price-drops.md) | -1.4% | +1.8% |
| PALMOIL | 2022-04-25 | [Malaysia urges countries to prioritise food over fuel as Indonesia bans palm exports](https://feedsoft.ai/events/15830-malaysia-urges-countries-to-prioritise-food-over-fuel-as-indonesia-bans-palm.md) | +1.2% | -1.7% |
| SBO | 2022-04-22 | [Soyoil surges to record high as Indonesia bans palm oil exports](https://feedsoft.ai/events/14040-soyoil-surges-to-record-high-as-indonesia-bans-palm-oil-exports.md) | +3.2% | -4.4% |
| SBO | 2022-04-28 | [Soy oil soars to record as Indonesia expands palm export ban](https://feedsoft.ai/events/41929-soy-oil-soars-to-record-as-indonesia-expands-palm-export-ban.md) | -2.7% | -7.3% |
| SBO | 2022-04-25 | [Malaysia urges countries to prioritise food over fuel as Indonesia bans palm exports](https://feedsoft.ai/events/15830-malaysia-urges-countries-to-prioritise-food-over-fuel-as-indonesia-bans-palm.md) | +1.6% | -4.6% |

## Sources

- reuters.com: https://www.reuters.com/world/asia-pacific/indonesia-ban-palm-oil-exports-shore-up-supply-soyoil-futures-surge-2022-04-22/

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