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Indonesian Finance Minister Sri Mulyani Indrawati said the government has not yet projected revenue from raising the crude palm oil export levy from US$3 to US$18 per tonne in February. She said the government wants to observe world CPO price trends before adjusting the 2017 budget.
The Trade Ministry set the February reference price at US$815.52 per tonne, up about 3.46% from January.
A higher export levy raises the cost of Indonesian palm oil exports, which tends to tighten world supply and support international palm oil prices.
cnnindonesia.comYuliyanna FauziFeb 2, 2017After 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.
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.
