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Indonesia's trade ministry set the crude palm oil reference price for 16-31 July 2023 at US$791.02/tonne, up 5.86%. The export duty was raised to US$33/tonne and the export levy to US$85/tonne.
Higher Indonesian export duties and levies raise the cost of exporting palm oil from the world's largest producer, tightening export availability and supporting palm and soy oil prices.
gapki.idadminJul 19, 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.
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.
