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Indonesia introduced a simplified set of palm oil export levies effective September 21, 2024, cutting most levies to 3 to 7.5 percent of the monthly reference price. The export levy on palm oil mill effluent is raised to match the CPO levy, and the levy on used cooking oil also rises.
The change follows falling crude palm oil exports due to competition from other edible oils.
Lower levies make Indonesian palm oil cheaper to export, which can support export demand and firm global palm prices. The higher levies on waste-based products shift the cost balance between feedstocks used in biodiesel.
fas.usda.govOct 1, 2024After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
