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Indonesia, the world's top palm oil grower, plans to subsidise locally sold cooking oil using 3.6 trillion rupiah from its palm oil export levy. Crude palm oil prices rose to a record about RM5,037 a tonne amid tight global vegetable oil supplies.
Subsidies aim to cap domestic prices without curbing exports, so the effect on world palm oil prices is mixed, though record prices reflect strong global demand.
straitstimes.comJan 6, 2022After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% 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.
