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Indonesia's trade minister issued Regulation No.142/2024, raising the crude palm oil export duty from $3 to $18 per ton and the plantation fund levy from $75 to $85 per ton, effective February 1, 2024. The change followed a reference price set at $806.4 per ton.
Higher export costs reduce Indonesian export competitiveness and can support palm oil prices abroad while tightening export availability for buyers of vegetable oil meals and oils.
globaltradealert.orgJan 30, 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 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), 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.
