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Indonesia's Trade Ministry cut the crude palm oil export duty from $3 to $0 per tonne for October 16-31, under Regulation No. 1436/2022. The change followed a reference price of $713.89 per tonne.
The measure was revoked effective October 31, 2022.
Removing the export duty lowers the cost of Indonesian palm exports for the second half of October, adding supply to world vegetable oil markets and pressuring palm prices.
globaltradealert.orgOct 14, 2022After 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.
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.
