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Indonesia's trade ministry lowered the January 2025 crude palm oil reference price to $1,059.54 per ton from $1,071.67 in December. The ministry attributed the cut to an imbalance between global palm oil production and demand, competing vegetable oil prices, and the rupiah's exchange rate against the dollar.
The reference price sets the base for Indonesian export levies and duties, and the lower figure signals weaker export values. It reflects softer global palm oil pricing, which is bearish for palm oil exporters.
antaranews.comMaria Cicilia Galuh PrayudhiaJan 1, 2025After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
Lower Indonesian CPO reference price citing supply-demand imbalance and competing oils reinforced bearish sentiment at the start of the year.
Lower Indonesian CPO reference price signals supply/demand imbalance and competing oils, a bearish sentiment factor.
