# Government Supports Palm Oil Industry by Temporarily Removing Palm Oil Export Levy | Indonesia Investments

> 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.

- Date: 2018-11-27 · published 2018-11-27T12:00:00.000Z
- Category: policy · region Indonesia · magnitude high
- Page: https://feedsoft.ai/events/61914-government-supports-palm-oil-industry-by-temporarily-removing-palm-oil-export
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Removing the levy makes Indonesian palm more competitive in an oversupplied market, adding downward pressure on global palm prices.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-11-27 | [Divided over Indonesian removal of levy on palm oil exports \| The Star](https://feedsoft.ai/events/61910-divided-over-indonesian-removal-of-levy-on-palm-oil-exports-the-star.md) | -1.1% | +2.6% |
| PALMOIL | 2020-09-08 | [Indonesia to revamp palm oil levy to support biodiesel programme](https://feedsoft.ai/events/51005-indonesia-to-revamp-palm-oil-levy-to-support-biodiesel-programme.md) | +1.1% | -4.1% |
| PALMOIL | 2020-09-30 | [Indonesia resumes collecting palm oil export levies](https://feedsoft.ai/events/51006-indonesia-resumes-collecting-palm-oil-export-levies.md) | -2.4% | +1.7% |
| PALMOIL | 2018-12-03 | [Divided over Indonesian removal of levy on palm oil exports – Customs Today Newspaper](https://feedsoft.ai/events/61469-divided-over-indonesian-removal-of-levy-on-palm-oil-exports-customs-today.md) | +0.3% | +7.6% |
| PALMOIL | 2024-11-22 | [Indonesia Cuts Palm Oil Levy to Be Competitive, Boost Exports](https://feedsoft.ai/events/15606-indonesia-cuts-palm-oil-levy-to-be-competitive-boost-exports.md) | +0.2% | -3.7% |

## Sources

- indonesia-investments.com: https://www.indonesia-investments.com/news/news-columns/government-supports-palm-oil-industry-by-temporarily-removing-palm-oil-export-levy/item9041

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.