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Indonesia's finance ministry is reported to be cutting the maximum crude palm oil export levy, which would fall to $175/mt when reference prices exceed $1,000/mt. The change is expected to lift exporter margins and expedite exports.
A lower export levy widens the margin between Indonesian and world palm oil prices, which can pull more Indonesian supply into export markets and support international palm oil prices.
reuters.comBernadette ChristinaJun 22, 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.
