# Palm jumps 3% on boost to Chinese import margins from recent weak prices - Markets - Business Recorder

> Malaysian palm oil futures jumped about 3% on June 22 as the sharp fall earlier in June lifted Chinese import margins. Indonesia's announcement that it would cut its crude palm oil export levy ceiling to $175 per tonne from $255 capped gains. Exports for June 1-20 rose 11.2% from a year earlier.

- Date: 2021-06-22 · published 2021-06-22T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/46660-palm-jumps-3-on-boost-to-chinese-import-margins-from-recent-weak-prices-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Improved Chinese import margins encourage buying and support prices, while Indonesia's lower levy lifts exporter margins and may increase export supply. The combined effect is bullish for palm oil in the near term.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-06-30 | [Palm rises on higher Indonesian export levy, weak ringgit - Markets - Business Recorder](https://feedsoft.ai/events/6549-palm-rises-on-higher-indonesian-export-levy-weak-ringgit-markets-business.md) | +8.5% | +13.1% |
| PALMOIL | 2022-12-19 | [Palm oil firms on higher crude prices, Indonesia’s plan to raise biofuel mandate - Markets - Business Recorder](https://feedsoft.ai/events/38333-palm-oil-firms-on-higher-crude-prices-indonesia-s-plan-to-raise-biofuel-mandate.md) | -0.6% | +1.5% |
| PALMOIL | 2024-10-01 | [Palm bounces back on Indonesia’s October reference price hike - Markets - Business Recorder](https://feedsoft.ai/events/7238-palm-bounces-back-on-indonesia-s-october-reference-price-hike-markets-business.md) | +9.3% | +9.7% |
| PALMOIL | 2021-08-27 | [Indonesia Sept crude palm oil export reference price, export tax set higher - Markets - Business Recorder](https://feedsoft.ai/events/45440-indonesia-sept-crude-palm-oil-export-reference-price-export-tax-set-higher.md) | -1.4% | +1.9% |
| PALMOIL | 2022-07-13 | [Palm rises on Indonesia’s biodiesel mandate, lower exports cap gains - Markets - Business Recorder](https://feedsoft.ai/events/15804-palm-rises-on-indonesia-s-biodiesel-mandate-lower-exports-cap-gains-markets.md) | -5.7% | -3.0% |
| SBO | 2022-07-13 | [Palm rises on Indonesia’s biodiesel mandate, lower exports cap gains - Markets - Business Recorder](https://feedsoft.ai/events/15804-palm-rises-on-indonesia-s-biodiesel-mandate-lower-exports-cap-gains-markets.md) | +0.0% | +4.2% |
| SBO | 2024-08-26 | [Palm oil climbs to one-month high on Indonesia’s tax, biodiesel plans - Markets - Business Recorder](https://feedsoft.ai/events/15630-palm-oil-climbs-to-one-month-high-on-indonesia-s-tax-biodiesel-plans-markets.md) | +3.3% | +1.0% |
| SBO | 2024-10-24 | [Palm oil futures hits highest level in over two years - Markets - Business Recorder](https://feedsoft.ai/events/27954-palm-oil-futures-hits-highest-level-in-over-two-years-markets-business-recorder.md) | +2.3% | +4.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40102050

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.