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Indonesia has raised its crude palm oil export levy to $180 per tonne from $55, effective December 10, and export duty rose to $33 per tonne from $3. The combined levy and duty is about $213 per tonne.
The increase funds the biodiesel program requiring 30% palm-based blend in 2021.
The combined $213 per tonne charge makes Indonesian exports costlier and favors Malaysian supply and downstream processing. This supports palm oil prices while the biodiesel program absorbs more palm output.
inno-oleo.comDec 9, 2020
spglobal.comAnu DasDec 3, 2020After 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.
