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Gapki chairman Eddy Martono said a Nigerian factory operated by Indomie buys Malaysian palm oil because it is cheaper than Indonesian supply. He attributed Indonesia's higher cost to export levies, export duties and a domestic market obligation of about $20 per ton.
Businesses pay about $138 per ton in total before export.
Higher Indonesian export costs are steering some African buyers toward Malaysian palm oil, which can shift export demand between the two suppliers. Pressure on Indonesian exports could widen the price gap with Malaysia.
jakartaglobe.idWahyu SetyowatiAug 28, 2024After 67 past neutral trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.1% to +1.3%), and +0.6% 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.
