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Indonesia dropped plans to replace palm oil export curbs and instead raised the ceiling on combined export tax and levy. The ceiling rises from $375 a tonne to between $575 and $675 a tonne, with the levy rising $20 for every $50 increase in the reference price.
Replacing the export curbs with a higher levy keeps Indonesian palm oil leaving the country but at a higher cost, which tightens export supply and supports global palm oil prices.
reuters.comBernadette ChristinaMar 17, 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.
