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Indonesia resumed collecting a US$50 per tonne crude palm oil export levy after suspending it in March when prices plunged. A lower rate applies to downstream palm products.
The trade ministry set the January reference price at US$729.72 per tonne, and no export duty applies because prices remain below the US$750 threshold.
Reinstating the levy adds a cost to palm oil exports, which weighs on export-side demand and prices. Staying below the duty threshold means no additional tax burden on exporters for now.
ofimagazine.comQuartz Business MediaSep 30, 2020After 400 past bearish policy events, PALMOIL 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.
