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Indonesia's reference price for crude palm oil fell to US$678.18 per tonne for July 2018, below the US$750 threshold, so no export levy will be collected for July. The trade ministry announced the decision on June 27 amid a trade deficit of US$1.52 billion in May.
Weaker CPO prices remove the export levy and signal softer palm export values, which tends to pressure palm oil prices and competing vegetable oil prices.
kompas.idTim Harian KompasJun 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.
After 196 past neutral policy events, SBO moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), and -0.5% 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.
