# Indonesia cuts palm oil levy to be competitive, boost exports | FMT

> Indonesia set its crude palm oil export levy at 7.5% of the reference price, effective September 21, cutting the duty to US$63 per ton from US$90. Processed palm products will face levies of 3% to 6%. The move aims to make Indonesia more competitive than Malaysia, the second-largest producer.

- Date: 2024-09-19 · published 2024-09-19T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/15622-indonesia-cuts-palm-oil-levy-to-be-competitive-boost-exports-fmt
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A lower Indonesian export duty undercuts Malaysian palm oil in export markets, adding pressure on benchmark futures that have already fallen over 10% since April.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-11-22 | [Indonesia Cuts Palm Oil Levy to Be Competitive, Boost Exports](https://feedsoft.ai/events/15606-indonesia-cuts-palm-oil-levy-to-be-competitive-boost-exports.md) | +0.2% | -3.7% |
| PALMOIL | 2024-09-19 | [Indonesia issues new palm oil levies rule to boost competitiveness \| Reuters](https://feedsoft.ai/events/15615-indonesia-issues-new-palm-oil-levies-rule-to-boost-competitiveness-reuters.md) | +2.4% | +11.3% |
| PALMOIL | 2017-03-24 | [Local palm oil buyers boost imports from Indonesia \| FMT](https://feedsoft.ai/events/72114-local-palm-oil-buyers-boost-imports-from-indonesia-fmt.md) | -0.6% | -7.7% |
| PALMOIL | 2022-10-07 | [Indonesia to extend export levy waiver on palm oil to year-end \| FEAG](https://feedsoft.ai/events/15782-indonesia-to-extend-export-levy-waiver-on-palm-oil-to-year-end-feag.md) | -1.3% | +14.9% |
| PALMOIL | 2026-01-22 | [Palm Oil News - Indonesia Delays B50 Plan, Malaysia Seen More Competitive in CPO Exports](https://feedsoft.ai/events/15502-palm-oil-news-indonesia-delays-b50-plan-malaysia-seen-more-competitive-in-cpo.md) | +1.5% | +4.4% |

## Sources

- freemalaysiatoday.com: https://www.freemalaysiatoday.com/category/business/2024/09/19/indonesia-cuts-palm-oil-levy-to-be-competitive-boost-exports

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.