
Indonesia's Trade Ministry reimposed a crude palm oil export duty after the reference price rose nearly 6% to $791 per ton for 16-31 July. The threshold for duty is $680 per ton.
Indonesia exported 10.6 million tons of palm oil in the first four months of 2023.
Reinstating the export duty adds cost to Indonesian palm oil exports, supporting global palm prices and substitute vegetable oils.
After 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.