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Indonesia will suspend about two-thirds of existing palm oil export quotas until May 1 to secure domestic cooking oil supply amid rising prices. Exporters had accumulated export quotas last year, according to the trade minister.
Export permits are linked to domestic sales.
Suspending export permits removes a large share of Indonesian palm oil from world markets, which is bullish for global palm and vegetable oil prices. It also signals a renewed risk of export restrictions.
reuters.comBernadette ChristinaFeb 6, 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.
