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Indonesia reduced its crude palm oil export levy to 7.5% of the reference price, cutting the duty to US$63 per ton from US$90. Processed palm product levies are set between 3% and 6%.
The change is effective from September 21 and is aimed at boosting exports.
A lower levy makes Indonesian palm oil more competitive versus Malaysia and should increase export supply, adding downward pressure on palm oil futures.
asia-palmoil.comAsia Palm Oil MagazineNov 22, 2024After 400 past bearish policy events, PALMOIL moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% 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.
