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Indonesia plans to use palm oil export levy funds to finance development of its cocoa and coconut sectors, the trade minister said on July 10, 2024. The palm oil levy has been collected since 2015 to fund biodiesel, smallholder replanting and research.
Redirecting levy revenue away from biodiesel and replanting could affect future funding for the biodiesel mandate and palm supply growth. The near-term price impact is limited.
english.kontan.co.idHerlina KDJul 10, 2024After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% 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.
