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Indonesia announced on August 27 that its palm oil export tax will rise from $93 to $166 per tonne, effective September 1, 2021. The increase follows a higher August reference price for crude palm oil.
Export levies are unchanged.
The higher export tax raises the cost of Indonesian palm oil exports, which can reduce Indonesian shipments and support prices in competing origins such as Malaysia.
globaltradealert.orgAug 27, 2021After 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.
