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Indonesia plans to scrap its domestic market obligation on palm oil exports and replace it with higher export duties. The combined export tax and levy ceiling rises from $375 to between $575 and $675 a tonne, and Public Investment Bank expects a sharp drop in Indonesian exports.
Expected tighter global palm oil supply from sharply lower Indonesian exports supports CPO prices and widens the price gap with Malaysian palm oil.
bernama.comMar 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.
