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Indonesia set the May 2024 CPO reference price at US$877.28/MT, up 2.29% from April, and fixed the CPO out fee at US$52/MT and the levy at US$90/MT. The reference price is based on average March-April prices across Indonesian, Malaysian and Rotterdam benchmarks.
Higher export fees and levies raise the cost of Indonesian palm oil exports, which can narrow the export arbitrage and modestly support international palm oil prices.
palmoilmagazine.comPalmoilmagazineMay 5, 2024After 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.
