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Indonesia's trade ministry set the January 2021 crude palm oil export levy at $74 per tonne, up from $33 in December. The increase followed a 9.31% rise in the benchmark reference price to $951.86 per tonne, driven by stronger international prices.
The ministry also raised its cocoa bean reference price.
A higher levy raises the cost of exporting Indonesian palm oil and shifts the balance between domestic and export use. The reference price increase signals firm global palm prices entering 2021.
theinsiderstories.comDesk Editor InsiderJan 4, 2021After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% 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.
Higher Indonesian export levy for January reflects higher prices and may curb Indonesian exports, tightening export supply.
