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Indonesia's government announced it will temporarily remove the palm oil export levy to support a palm industry hit by low prices. Malaysia's benchmark was near a three-year low of 1,949 ringgit amid high inventories, rising production and weak demand.
Removing the levy makes Indonesian palm more competitive in an oversupplied market, adding downward pressure on global palm prices.
indonesia-investments.comIndonesia InvestmentsNov 27, 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.
