Indonesia palm oil group says palm oil exports to US may fall due to tariffs
Palm oil products are among Indonesia's top exports to the United States.
If implemented, the tariff could lead to a 15%-20% drop in Indonesian palm oil shipments to the United States, which stood at an average of 2.25 million metric tons per year over the past three years, Hadi said.
Overall, Indonesia exported 29.5 million tons of palm oil products in 2024.
'The competitiveness of palm oil will decline against other vegetable oils such as soybean oil and rapeseed oil, especially if countries exporting these vegetable oils receive lower tariffs,' he added.
Malaysian palm oil futures rise on strong crude oil
Indonesian palm oil products, which account for 85% of US palm imports, may also lose market share to Malaysian palm oil, which faces a lower tariff.
Indonesia's top negotiator is headed to Washington on Tuesday to meet with trade representatives of the United States, an economic ministry official said.
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