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Indonesia will raise its crude palm oil export levy to 10% from 7.5% to fund higher biodiesel subsidies, according to its chief economic minister. The levy takes effect once the finance ministry issues the implementing regulation.
The move is tied to the B40 blend starting January 1.
A higher export levy tightens Indonesian export supply and supports international palm oil prices, while the larger biodiesel program lifts domestic vegetable oil demand.
nst.com.myReutersDec 19, 2024After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
