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Indonesia's deputy minister for food and agriculture told S&P Global Platts that Jakarta plans talks with India to cut the duty on Indonesian palm oil imports, which have weakened due to Malaysian competition. Indonesia is also changing policy to allow Indian raw sugar imports and hopes to move to B30 biodiesel from January 2020.
A lower Indian duty on Indonesian palm oil would support Indonesian export demand, while B30 biodiesel would absorb more domestic supply. Both factors are supportive for palm oil prices if the talks succeed.
spglobal.comOct 9, 2019After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% 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.
