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Indonesia's customs directorate said it cannot collect the crude palm oil export duty because the CPO price has fallen below US$750 per tonne. It said the government expects revenue from a new export-duty source, Freeport Indonesia's concentrate exports, which began on April 25, 2017.
Officials have not yet estimated how much that will bring in.
With the duty suspended, Indonesian exporters face lower costs, which can support export flows at a time of global surplus. The move signals that the government will keep its duty structure tied to price levels.
cnnindonesia.comMay 3, 2017After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% 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.
