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Indonesia's Trade Ministry set the April 2024 CPO reference price at US$857.62/MT, up US$58.72 from March. The export duty is US$52/MT and the export levy is US$90/MT, because the reference price exceeded the US$680 threshold.
Export duties and levies are set off the reference price, so the reset changes Indonesian export costs. This feeds into world palm oil pricing and competing vegetable oil demand.
palmoilmagazine.comPalmoilmagazineApr 2, 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.
After 196 past neutral policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), and -0.5% 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.
