Loading…
Indonesia's trade minister said the palm oil export levy waiver was extended to October 31, with a maximum $240 per tonne levy for crude palm oil previously due in September now postponed. Inventories stood at 6.68 million tonnes at end-June, far above levels at end-2021, and exports have remained slow.
Large Indonesian stocks and slow exports point to ample palm supply, which pressures palm oil prices and competing vegetable oils.
agriculture.comReutersAug 24, 2022After 400 past bearish policy events, Palm Oil 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, Soybean Oil 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.
