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Indonesia's government agreed to adjust export levies on crude palm oil and derivatives after CPO prices fell to about US$410 a ton. The levy will be restored if prices recover to $550 a ton, and the policy will take effect once the Finance Ministry issues the regulation.
Temporarily cutting levies lowers Indonesian export costs and should increase export competitiveness, which is bearish for global palm prices in the near term.
theinsiderstories.comLinda SilaenNov 26, 2018After 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.
