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On 12 May 2023 Indonesia's Trade Minister cut the crude palm oil export duty from $74 to $33 per tonne and reduced the plantation fund levy from $100 to $90 per tonne. The change follows a lower CPO reference price for the May 16-31 period.
Lower Indonesian export duties make Indonesian palm oil cheaper to export and more competitive against Malaysian supply. This increases export availability and pressures world palm oil prices.
globaltradealert.orgMay 12, 2023After 399 past bearish policy events, PALMOIL moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
