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Indonesia issued new palm oil export levy rules effective Saturday, setting the levy on crude palm oil at 7.5% of the government reference price. Refined products will pay 3% to 6% of the reference rate, replacing the previous $55 to $240 per ton bracket system.
The levies fund replanting subsidies and the biodiesel programme.
A lower effective levy makes Indonesian palm oil more competitive in export markets, adding supply pressure on benchmark prices, especially versus Malaysia.
reuters.comFransiska NangoySep 19, 2024After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), 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.
