# Rising palm oil consumption bolsters Indonesian agriculture - Asia 2018 - Oxford Business Group

> Indonesia is the world's largest palm oil producer, with 54% of global supply in 2016 according to USDA data. CPO output rose 10% in 2016 to 32.5m tonnes, and USDA projects 2017/18 production of 36.5m tonnes, while Indonesian CPO prices eased in early 2017 after a 2016 rally.

- Date: 2017-12-23 · published 2017-12-23T12:00:00.000Z
- Category: report · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/67362-rising-palm-oil-consumption-bolsters-indonesian-agriculture-asia-2018-oxford
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Projected supply growth of about 12% points to ample palm oil availability, which tends to weigh on prices and competes with other vegetable oils.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-08-03 | [Indonesia's palm oil exports to hit record in 2017-2018 \| Agrifish  \| POST Online Media](https://feedsoft.ai/events/69562-indonesia-s-palm-oil-exports-to-hit-record-in-2017-2018-agrifish-post-online.md) | -0.6% | +1.3% |
| PALMOIL | 2022-03-24 | [Indonesian palm oil output, exports to hit record high in 2022-23 - Grain Price News](https://feedsoft.ai/events/15835-indonesian-palm-oil-output-exports-to-hit-record-high-in-2022-23-grain-price.md) | -0.9% | -4.0% |
| PALMOIL | 2018-05-25 | [Indonesia`s Palm Oil Exports Dropped in Q1 2018 - The Insiders Stories](https://feedsoft.ai/events/64892-indonesia-s-palm-oil-exports-dropped-in-q1-2018-the-insiders-stories.md) | -0.1% | -5.1% |
| PALMOIL | 2017-10-04 | [Malaysia palm oil stocks seen rising to 19-month high - The Business Times](https://feedsoft.ai/events/5638-malaysia-palm-oil-stocks-seen-rising-to-19-month-high-the-business-times.md) | +0.9% | +2.8% |
| PALMOIL | 2017-02-03 | [Powerful lobby sought to ease Indonesia palm oil exports - Business - The Jakarta Post](https://feedsoft.ai/events/12324-powerful-lobby-sought-to-ease-indonesia-palm-oil-exports-business-the-jakarta.md) | +0.7% | -7.2% |

## Sources

- oxfordbusinessgroup.com: https://oxfordbusinessgroup.com/reports/indonesia/2018-report/economy/production-pickup-growing-domestic-consumption-strengthens-palm-oil-outlook

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