Abstract
Oil palm is the major source of edible oil and feedstock consumed in the world. This study examined the determinants of global palm oil trade with attention to the effects of trade policies using a gravity model, PPML estimator, and the data from 1988-2020. Palm oil’s dramatic trade growth in recent years can be attributed to the economic growth of large countries, the proximity of partners and policies. Trade agreements increased crude and refined palm oil trade by up to 8 and 4 percent of the global import value, respectively. Further, the effects of policy changes due to COVID-19 and the recent export ban in Indonesia are also quantified.
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