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Indonesia's February 2024 crude palm oil reference price was set at US$806.40/MT, up 4.06% from the January level of US$774.93. The reference price also sets the export levy and duty, and the government moved to monthly price setting from February.
The higher reference price raises the export levy and duty on Indonesian palm oil, which feeds into export costs and can support palm oil prices in global markets.
en.infosawit.comInfoSAWIT EnglishFeb 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.
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.
