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Indonesia will impose palm oil export levies on CPO and derivatives from January 1, 2020, as the mandatory B30 biodiesel program starts, according to Darmin Nasution. Regulation caps the levy at 50 percent above $570 and 100 percent above $620 per ton.
CPO prices were $574.9 per ton as of September 20.
B30 is expected to add about three million tons of palm oil demand, which should push prices up. The levy from January would raise export costs and partly offset that demand gain, so the net effect is a tighter domestic supply.
theinsiderstories.comLinda SilaenSep 24, 2019After 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.
