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Indonesia raised its palm oil export levy with immediate effect, lifting the maximum levy to $375 a tonne from $175. The new progressive brackets apply when the reference price reaches $1,000 to $1,050 a tonne and above.
A higher export levy makes Indonesian palm oil more expensive to ship abroad, tightening global availability and supporting world palm oil prices.
reuters.comBernadette ChristinaMar 18, 2022After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
