Indonesian President Widodo announced after a cabinet meeting on Friday (April 22) that he would stop the export of “all edible oil and edible oil raw materials” from April 28, and the recovery time is unknown. Indonesia is the world’s largest producer of palm oil, accounting for more than half of the global supply. This new deal of Indonesia immediately caused a huge shock in the global food and oil market. US soybean oil futures rushed to an all-time high.
Almost all of China’s palm oil is imported, and it is highly dependent on Indonesia’s palm oil. At the same time, China is still the world’s second-largest importer and third-largest consumer of palm oil. Wang Yibo, a researcher of Founder medium term futures, pointed out that after the ban on the export of Indonesian palm oil, demand countries will have to turn to major vegetable oil exporting countries such as Malaysia and Argentina. However, due to the difficulty of other countries to make up for the reduction of Indonesian vegetable oil export and the reduction of effective supply in the market, the global vegetable oil supply will be tightened, and suppliers may be reluctant to sell and wait for rise, which will lead to the rise of palm oil and replaceable oil prices.
According to the theme database of financial Associated Press, among the relevant listed companies:
Zanyu Technology Group Co.Ltd(002637) is the leader of China’s oil chemical industry. The products of the 100000 t / a project under construction of Hangzhou petrochemical company include 20000 t / a OPO structural ester and 50000 T / a food grade monoglyceride, which is expected to be put into operation in the first quarter of 2022; Indonesia’s capacity of 700000 tons in dukuda has greatly benefited from Indonesia’s new palm oil policy.
Grand Industrial Holding Co.Ltd(000626) has entered the oil trade field since 2012. The company has established long-term cooperative relations with local enterprises in Indonesia and actively explored the upstream oil resources of palm oil.
