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Indonesia's trade minister said the government will cut the combined maximum crude palm oil export tax and levy to $488 per tonne from $575 to encourage shipments. The move follows a recent export ban and aims to speed up slowed exports.
Lower export charges make Indonesian palm oil cheaper to ship abroad, increasing export supply and pressuring global vegetable oil prices, which also affects soybean oil and feedstock demand.
reuters.comStefanno SulaimanJun 7, 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.
