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Indonesia's government extended its zero palm oil export levy on all palm oil products until October 31, 2022, following a steering committee meeting on August 28. The levy had been cut from US$200 per ton for CPO as of July 15 to boost exports and ease oversupply of fresh fruit bunches.
Keeping exports levy-free supports Indonesian shipments and helps drain large stocks, which is supportive for palm oil prices and substitute vegetable oils used in feed fats.
en.antaranews.comKuntum Khaira R, SuhartoAug 29, 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.
