# Arab News | Commodities Update — Gold prices fall; Indonesia to raise palm oil export quota; Russia reduces grain export taxes

> Gold fell as a firm dollar and expected rate hikes weighed on demand, while India raised its bullion import tax. Indonesia proposed raising palm oil export quotas and considered higher biodiesel blending to support farm prices. Russia cut grain export taxes.

- Date: 2022-07-03 · published 2022-07-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6223-arab-news-commodities-update-gold-prices-fall-indonesia-to-raise-palm-oil
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Indonesia's larger export quotas add palm supply, while Russia's lower grain export taxes should encourage more wheat exports and weigh on world grain prices. Higher biodiesel blending would partly absorb palm supply and could support prices.

## Read by commodity

- WHEAT: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2022-07-04 | 1 | -10.5% | -3.9 | Weekend news that Indonesia proposed raising palm export quotas signaled larger export supply, driving the Monday selloff (biodiesel blending only a partial offset). |
| PALMOIL | 2022-07-05 | 5 | -26.0% | -9.8 | Indonesia's proposal to raise export quotas signals more supply reaching the market, weighing on prices. |
| WHEAT | 2022-07-06 | 5 | -9.1% | -3.0 | Russia cutting grain export taxes can raise export supply and competition for wheat, and the firm dollar weighed on commodities, though the effect is indirect. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-07-04 | [Palm oil extends losses as Indonesia mulls raising export quota](https://feedsoft.ai/events/4994-palm-oil-extends-losses-as-indonesia-mulls-raising-export-quota.md) | -10.8% | -14.1% |
| PALMOIL | 2023-04-28 | [Crude palm oil prices dive to six-month low as Indonesia revises export policy - Fastmarkets](https://feedsoft.ai/events/4383-crude-palm-oil-prices-dive-to-six-month-low-as-indonesia-revises-export-policy.md) | -9.7% | -7.7% |
| PALMOIL | 2018-11-26 | [Malaysian palm oil price in biggest fall in 21 months as Indonesia axes export levy \| The Star](https://feedsoft.ai/events/61908-malaysian-palm-oil-price-in-biggest-fall-in-21-months-as-indonesia-axes-export.md) | -0.5% | +2.0% |
| PALMOIL | 2022-05-20 | [Malaysia to reduce palm oil export tax, biodiesel mandate](https://feedsoft.ai/events/15820-malaysia-to-reduce-palm-oil-export-tax-biodiesel-mandate.md) | +2.6% | -7.0% |
| PALMOIL | 2026-01-14 | [Indonesia scraps plan to introduce B50 biodiesel this year, will raise palm oil export levy \| Reuters](https://feedsoft.ai/events/15497-indonesia-scraps-plan-to-introduce-b50-biodiesel-this-year-will-raise-palm-oil.md) | +0.6% | +4.5% |
| WHEAT | 2026-01-01 | [Russia Boosts Late Season Grain Export Quota as Prices Pick Up](https://feedsoft.ai/events/14158-russia-boosts-late-season-grain-export-quota-as-prices-pick-up.md) | +0.7% | +3.4% |
| WHEAT | 2026-06-29 | [Russia Extends Zero Wheat Export Duties, Pressuring Black Sea and Polish Grain Prices — CMB News](https://feedsoft.ai/events/14109-russia-extends-zero-wheat-export-duties-pressuring-black-sea-and-polish-grain.md) | +0.6% | +4.4% |
| WHEAT | 2026-09-02 | [Russia Pauses Grain Export Duty as Black Sea Exports Stall (2)](https://feedsoft.ai/events/14087-russia-pauses-grain-export-duty-as-black-sea-exports-stall-2.md) | +0.7% | +2.9% |

## Sources

- arabnews.com: https://www.arabnews.com/business/commodities-update-gold-prices-fall-indonesia-to-raise-palm-oil-export-quota-russia-reduces-grain-export-taxes-2115611

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