The world oil market is having a hard time
Palm oil from Indonesia Sunflower oil from Ukraine Rapeseed oil and corn oil Use l Gene Editing Against Ukraine's Wheat Crisis The war has reduced grain exports from Russia and Ukraine, creating food security risks. The answer could come from new gene editing techniques Indonesia palm oil According to the United States Department of Agriculture, with over 44 million tons in 2021, Indonesia is by far the largest oil producer in the world of palm. A value almost three times the amount of just under 19 million tons produced in Malaysia, the second largest market in the world. These numbers are enough to understand the impact of the local government's decision to ban palm oil exports.
The ban, effective last April 28, is due to the shortage of cooking oil on the domestic market. And, it should be noted, it is not about crude palm oil. But it was enough to raise the price of this asset. The data of Un Comtrade allow us to reconstruct which are the main recipient countries of Indonesian palm oil exports.
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Here if you don't see the graph The countries that import palm oil from Indonesia are highlighted in blue on the map (colored instead of red). The bubbles, on the other hand, are sized based on the quantity imported in 2020, expressed in tons. Imports concern crude palm oil which, as mentioned, is excluded from the government provision. But it is equally affected by the effects on the purchase and sale prices.
As can be seen, with over 4 million tons, India is the main market for Indonesian palm oil. To better understand the proportion between the different 'customers' of Jakarta, sportsgaming.win has created this treemap.
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Qui se do not see the graph As you can see from this graph, with 347 thousand tons, Italy is the fourth largest importer of Indonesian palm oil, after India, Spain and Malaysia.
Sunflower oil from Ukraine Already a few weeks after the Russian invasion of Ukraine began, notices appeared on the shelves of Italian supermarkets regarding a limit on the purchase of bottles of sunflower oil. Also according to data from the American Department of Agriculture, Kiev is the world's leading producer. The fact that this country is at war, moreover with Russia which is the second largest producer, greatly complicates the supply of this oil. This is the map of exports in 2021, again on Un Comtrade data.
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Here if you don't see the India and China, however, two of the most timid nations in condemning the Russian invasion, are the main export markets for sunflower oil produced in the Ukrainian countryside. This is the treemap that allows you to better understand the proportions between the various commercial partners of Kyiv.
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Here if you do not see the graph In this case, Italy is Ukraine's sixth trading partner. The trouble is that the 246,000 tons that arrived from Kiev in 2021 represent 46% of Italian imports of sunflower oil.
Rapeseed oil and corn oil The conjunction of the Indonesian government's decision and the war in Ukraine it allows producers of rapeseed oil and corn oil to find new markets for their products. To understand who it is, sportsgaming.win used Fao data updated to 2019.
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Here if you don't see the graph Canada and the United States, China and India, but also France are the nations that more than others can find new markets for rapeseed and corn oil. By default, the map shows the sum of the two productions. The filter at the bottom (top left for desk readers) allows you to select one of the two products. Also in this case, it was decided to create a treemap to account more effectively by the proportion between the various producers.
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Here if you do not see the graph It is unlikely that Italy will see its exports increase. Instead, it is easier than it to find solutions to overcome the difficulties in the supply of palm oil and sunflower seeds that are occurring on the markets.
