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Indonesia set its February 2017 crude palm oil export tax at $18 per metric ton, up from $3 in January. The benchmark February CPO price was $815.5 per ton, which falls in the $800 to $850 band that triggers the higher tax.
The higher export tax raises the cost of Indonesian palm oil shipments and supports international palm prices. Exporters' competitiveness is reduced.
customstoday.mediaCT Report28 ene 2017Tras 548 eventos alcista de política pasados, Aceite de palma se movió una mediana de +0,4 % en 5 sesiones (61% al alza; mitad central entre -0,7 % y +2,1 %), y +0,9 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Indonesia's February export tax hike from $3 to $18/t, announced Jan 28, raises export costs and may have weighed on palm prices ahead of the Feb 1 drop, though the size of the tax is small.
