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Indonesia's government decided to keep the zero US dollar export levy on crude palm oil from November 1, 2022, following the October 31 steering committee meeting led by Airlangga Hartarto. The levy will stay in place until the CPO reference price reaches US$800 per metric ton, and the current price was about US$713.
The policy continues because the biodiesel market index price is still below the diesel price.
The zero export levy keeps Indonesian palm oil export costs low, supporting export demand and palm oil prices. The policy would end once prices reach US$800/mt, which would remove that support.
indonesiawindow.comNov 1, 2022After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
