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Indonesia's Economy Minister announced on October 4 plans to extend the palm oil export levy waiver to year-end. The levy funds biodiesel and smallholder replanting, and lower palm prices and cheaper palm biodiesel reduced the funds needed.
Exporters must still meet a domestic market obligation of nine times domestic sales for exports.
A longer levy waiver keeps export flows of palm oil competitive, adding supply to global vegetable oil markets and weighing on prices.
fareasternagriculture.comMadhuri RameshOct 7, 2022After 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.
After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), 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.
