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Indonesia's trade minister cut the plantation fund levy on crude palm oil exports from $85 to $75 per tonne under Regulation 1990/2023, effective mid-December 2023. The cut followed a reference price of $767.51 per tonne.
The change is temporary, with a revocation date of January 31, 2024.
A lower export levy reduces exporters' costs and can lift Indonesian export flows, which supports world palm prices. The temporary nature limits the longer-term effect.
globaltradealert.orgDec 15, 2023After 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.
