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Indonesia's trade ministry raised crude palm oil export duties and plantation fund tariffs for December 2024 after the reference price was set at US$1,071.67 per tonne. Decision No. 1617/2024 lifted the export duty from US$74 to US$148 per tonne.
The measures were set to run from December 1.
Higher export duties make Indonesian palm oil costlier for buyers, reducing export competitiveness and supporting prices for palm and other vegetable oils outside Indonesia.
globaltradealert.orgNov 28, 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.
