Indonesia lower palm oil export duty in hopes of providing breathing room for producers

In Indonesia, Reuters reports that recent lowering of palm oil export levies to $175 from the previous $255 per metric ton is expected to boost exporters’ margins. When the reference crude palm oil price reaches $750, every time palm oil reaches $50 higher, the export levy will increase by $20. Previously, every time CPO rose $25, the levy rose by $50. Lowering the levy is meant to give exporters more breathing room to produce additional volumes and create more jobs.