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Indonesia set its crude palm oil reference price for June 1-15, 2023 at $811.68 per tonne, down from $893.23 for May 16-31. The new price sets the export tax at $33 per tonne and the levy at $85 per tonne, both lower than the prior period.
Lower Indonesian export taxes and levies reduce the cost of exporting palm oil, which can support export flows and modestly offset bearish pressure. The lower reference price reflects the falling global palm oil market.
reuters.comMay 31, 2023After 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.
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.
