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Indonesia's finance ministry reportedly plans to cut the maximum crude palm oil export levy to $175/mt when palm prices exceed $1,000/mt, according to sources cited by S&P Global Platts. The current levy is $255/mt and the implementation date had not been announced.
The planned cut would lower the cost of Indonesian palm oil exports and is expected to speed up shipments, supporting international palm oil prices.
spglobal.comJun 21, 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.
