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Indonesia imposed new palm oil export levies from July 2, cutting the ceiling rate for crude palm oil from $255 to $175 per tonne after stakeholder criticism. The change took effect through a new finance ministry regulation.
A lower levy cuts Indonesian exporters' costs and encourages more shipments, which supports global palm oil prices. Competing vegetable oils such as soybean oil could face pressure as palm becomes cheaper.
en.infosawit.comInfoSAWIT EnglishJul 8, 2021After 547 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
After 351 past bearish policy events, SBO 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.
