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Indonesia set its June 2024 crude palm oil reference price at 778.82 USD per ton, down 11.22% from May. The combined out fee and export levy fell to 93 USD per ton from 142 USD per ton.
A sharply lower export levy cuts Indonesian exporters' costs and makes their palm oil more competitive, supporting export flows and international palm oil prices.
After 548 past bullish policy events, Palm Oil 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.