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Indonesia's government will temporarily cut crude palm oil export levies to zero from $20-50 a tonne. The refiner body GIMNI opposed cutting the CPO levy, while GAPKI said the change would improve Indonesian export competitiveness.
The levy cut boosts Indonesian export competitiveness in an oversupplied market, which weighs on palm prices and the margin for refiners.
thestar.com.myThe Star OnlineNov 27, 2018After 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.
