
Indonesian President Joko Widodo announced that the palm oil export ban imposed April 28 will be lifted from Monday, May 23, citing improved domestic cooking oil supply. The ban had cost about $407 million per month according to the finance minister.
Lifting the ban restores a large share of world palm oil exports, which is bearish for palm oil and competing vegetable oils, though government will monitor supply and prices closely.
After 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.