# Indonesia's palm oil sector relies on domestic demand as exports drop - Business - The Jakarta Post

> Gapki expects Indonesian palm oil exports to fall 18% year on year to 24.92 million tons in 2020 as the EU, China and India are hit by the coronavirus pandemic. Domestic consumption is forecast to rise 1.2% to 15.8 million tons, driven by the B30 biodiesel programme. The association says biodiesel cannot be exported this year.

- Date: 2020-09-17 · published 2020-09-17T12:00:00.000Z
- Category: trade · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/51007-indonesia-s-palm-oil-sector-relies-on-domestic-demand-as-exports-drop-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Lower export volumes add supply to the world market and weigh on palm prices, while B30 absorbs domestic output and limits how far that bearishness can run.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-06-01 | [Palm oil eases as Indonesia gears up to resume exports - Markets - Business Recorder](https://feedsoft.ai/events/41053-palm-oil-eases-as-indonesia-gears-up-to-resume-exports-markets-business-recorder.md) | +0.7% | -13.0% |
| PALMOIL | 2022-07-26 | [Palm oil prices to fall more due to distress selling by Indonesia - Markets - The Jakarta Post](https://feedsoft.ai/events/40585-palm-oil-prices-to-fall-more-due-to-distress-selling-by-indonesia-markets-the.md) | +4.3% | +4.6% |
| PALMOIL | 2019-08-07 | [EU imposes duties of up to 18 percent on Indonesian biodiese - Business - The Jakarta Post](https://feedsoft.ai/events/57463-eu-imposes-duties-of-up-to-18-percent-on-indonesian-biodiese-business-the.md) | +3.7% | +3.5% |
| PALMOIL | 2021-05-31 | [Palm oil falls 2pc as export pace slows, Indonesia taxes weigh - Markets - Business Recorder](https://feedsoft.ai/events/46982-palm-oil-falls-2pc-as-export-pace-slows-indonesia-taxes-weigh-markets-business.md) | -2.0% | -12.6% |
| PALMOIL | 2022-05-22 | [Malaysia sees sustained competitiveness even as Indonesia resumes palm oil exports](https://feedsoft.ai/events/41497-malaysia-sees-sustained-competitiveness-even-as-indonesia-resumes-palm-oil.md) | +1.8% | -10.6% |

## Sources

- thejakartapost.com: https://www.thejakartapost.com/news/2020/09/17/indonesias-palm-oil-sector-relies-on-domestic-demand-as-exports-drop

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