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Indonesia has lost its position as India's largest vegetable oil supplier to Argentina and Malaysia, falling to third place in the 2025-26 marketing year, according to USDA FAS. Rising biodiesel mandates are absorbing more palm oil domestically, and USDA cut its 2026-27 Indonesian palm oil export forecast to 21.6 million mt.
Biodiesel mandates are diverting palm oil from export markets, which tightens global palm supply and supports palm oil prices. Buyers of palm-based and other vegetable oils may see tighter availability and firmer prices.
spglobal.comSamyak Pandey, Aditya KondalamahantyNov 11, 2026After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
