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Bank Indonesia plans to cut the fee on foreign exchange swap transactions to keep dollars in the country. Coordinating Minister Darmin Nasution said only 85% of export revenues are returned to Indonesia, and he also said the 20% biodiesel blend (B20) is ready for all diesel vehicles.
The policy is expected to cut diesel imports by about 3.5 to 4.5 million kiloliters.
The B20 mandate raises domestic palm oil demand for biodiesel and reduces diesel imports, which supports palm oil prices. A lower swap fee would also support the rupiah.
theinsiderstories.comLinda SilaenJul 31, 2018After 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.
After 21 past bearish policy events, ULSD / Diesel moved a median -2.4% over 5 sessions (38% higher; middle half -6.5% to +4.7%), and -1.1% over 20.
Not enough comparable past events yet for a historical read.
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.
