Loading…
Indonesia lowered its crude palm oil export duty and levies for 1-15 February after the CPO reference price fell 4% to $879.31/t, triggering the lower band. The CPO export duty dropped to $52/t from $74/t and the levy to $90/t from $95/t.
Other palm products also saw reduced duties and levies.
Lower export duties make Indonesian palm products cheaper to export, which can boost export flows and weigh on world palm oil prices. The cut also eases competitive pressure on Indonesian exporters against Malaysian product.
ukragroconsult.comFeb 2, 2023After 400 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.
