# Indonesia: Temporary changes in export duties of crude palm oil (27 February 2024) - Global Trade Alert

> Indonesia's trade minister issued Regulation No.199/2024 on February 27, cutting the crude palm oil export duty from US$18/MT to US$3/MT. The temporary reduction takes effect March 1 and is set to be revoked on March 31, 2024.

- Date: 2024-02-27 · published 2024-02-27T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/15663-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-27-february-2024
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A sharp cut in the export duty makes Indonesian palm oil cheaper for overseas buyers, likely boosting export demand and weighing on global palm oil prices in March.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-05-29 | [Indonesia: Temporary changes in export duties of crude palm oil (29 May 2024) - Global Trade Alert](https://feedsoft.ai/events/15643-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-29-may-2024.md) | +1.5% | +1.1% |
| PALMOIL | 2023-05-12 | [Indonesia: Temporary changes in export duties of crude palm oil (12 May 2023) - Global Trade Alert](https://feedsoft.ai/events/15732-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-12-may-2023.md) | -2.6% | -8.9% |
| PALMOIL | 2023-06-15 | [Indonesia: Temporary changes in export duties of crude palm oil (15 June 2023) - Global Trade Alert](https://feedsoft.ai/events/15724-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-15-june-2023.md) | +2.5% | +15.4% |
| PALMOIL | 2022-10-14 | [Indonesia: Temporary changes in export duty of crude palm oil (14 October 2022) - Global Trade Alert](https://feedsoft.ai/events/15785-indonesia-temporary-changes-in-export-duty-of-crude-palm-oil-14-october-2022.md) | +5.0% | +14.0% |
| PALMOIL | 2018-08-17 | [Malaysia: Temporary changes in export duty of crude palm oil (1 September 2018 to 28 February 2019) - Global Trade Alert](https://feedsoft.ai/events/63403-malaysia-temporary-changes-in-export-duty-of-crude-palm-oil-1-september-2018-to.md) | +0.1% | -0.3% |
| SBO | 2024-05-29 | [Indonesia: Temporary changes in export duties of crude palm oil (29 May 2024) - Global Trade Alert](https://feedsoft.ai/events/15643-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-29-may-2024.md) | -1.6% | +0.3% |
| SBO | 2023-06-15 | [Indonesia: Temporary changes in export duties of crude palm oil (15 June 2023) - Global Trade Alert](https://feedsoft.ai/events/15724-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-15-june-2023.md) | +4.4% | +17.3% |
| SBO | 2022-10-14 | [Indonesia: Temporary changes in export duty of crude palm oil (14 October 2022) - Global Trade Alert](https://feedsoft.ai/events/15785-indonesia-temporary-changes-in-export-duty-of-crude-palm-oil-14-october-2022.md) | +1.2% | +8.6% |

## Sources

- globaltradealert.org: https://globaltradealert.org/state-act/84355-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-27-february-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.