# Indonesia: Temporary changes in export duties of crude palm oil (15 June 2023) - Global Trade Alert

> Indonesia's Trade Minister issued Regulation No.1040/2023, cutting the crude palm oil export duty from 18 USD/MT to zero and reducing the plantation fund levy from 85 to 65 USD/tonne. The changes took effect 16 June 2023 and were later extended.

- Date: 2023-06-15 · published 2023-06-15T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/15724-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-15-june-2023
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Removing the export duty makes Indonesian palm oil cheaper to export, which can add supply to global vegetable oil markets and pressure prices. The effect is a bearish signal for palm oil and competing vegetable oils.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-05-12 | [Indonesia: Temporary changes in export duties of crude palm oil (12 May 2023) - Global Trade Alert](https://feedsoft.ai/events/15732-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-12-may-2023.md) | -2.6% | -8.9% |
| PALMOIL | 2024-05-29 | [Indonesia: Temporary changes in export duties of crude palm oil (29 May 2024) - Global Trade Alert](https://feedsoft.ai/events/15643-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-29-may-2024.md) | +1.5% | +1.1% |
| PALMOIL | 2024-02-27 | [Indonesia: Temporary changes in export duties of crude palm oil (27 February 2024) - Global Trade Alert](https://feedsoft.ai/events/15663-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-27-february-2024.md) | +2.3% | +9.3% |
| PALMOIL | 2022-10-14 | [Indonesia: Temporary changes in export duty of crude palm oil (14 October 2022) - Global Trade Alert](https://feedsoft.ai/events/15785-indonesia-temporary-changes-in-export-duty-of-crude-palm-oil-14-october-2022.md) | +5.0% | +14.0% |
| PALMOIL | 2018-08-17 | [Malaysia: Temporary changes in export duty of crude palm oil (1 September 2018 to 28 February 2019) - Global Trade Alert](https://feedsoft.ai/events/63403-malaysia-temporary-changes-in-export-duty-of-crude-palm-oil-1-september-2018-to.md) | +0.1% | -0.3% |
| SBO | 2024-05-29 | [Indonesia: Temporary changes in export duties of crude palm oil (29 May 2024) - Global Trade Alert](https://feedsoft.ai/events/15643-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-29-may-2024.md) | -1.6% | +0.3% |
| SBO | 2024-02-27 | [Indonesia: Temporary changes in export duties of crude palm oil (27 February 2024) - Global Trade Alert](https://feedsoft.ai/events/15663-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-27-february-2024.md) | +0.6% | +8.7% |
| SBO | 2022-10-14 | [Indonesia: Temporary changes in export duty of crude palm oil (14 October 2022) - Global Trade Alert](https://feedsoft.ai/events/15785-indonesia-temporary-changes-in-export-duty-of-crude-palm-oil-14-october-2022.md) | +1.2% | +8.6% |

## Sources

- globaltradealert.org: https://globaltradealert.org/state-act/75944-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-15-june-2023/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.