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Market wrap for Malaysian palm oil on 30 April 2024 that also cites Reuters on Indonesia setting its May CPO reference price at US$877.28/MT, up from US$857.62 in April. The export tax stays at US$52 and the levy at US$90.
The higher May reference price points to firmer Indonesian export pricing, though duty and levy rates are unchanged. Price direction for palm oil is supportive.
linkedin.comMitul B.Apr 30, 2024Not enough comparable past events yet for a historical read.
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.
Closing market wrap for April 30 describes the day's price action and Indonesian reference price and tax context, relevant but mostly descriptive.
