Indonesia this month scrapped its export levy for all palm oil products until Aug 31 following a series of attempt to boost exports and ease high inventories, and is also considering removing a domestic sales rule for exporters.
As a result, average crude palm oil prices for the third quarter are projected to range between 4,800 ringgit (US$1,078.41) and 5,200 ringgit (US$1,168.28) a tonne, also weighed by better production in Malaysia, Zuraida Kamaruddin said.
Prices are expected to rise to 5,000-5,500 ringgit per tonne in the fourth quarter with the resumption of the export levy in Indonesia and an expected decline in production, she added.
https://news.google.com/__i/rss/rd/articles/CBMiaGh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vYnVzaW5lc3MvbWFsYXlzaWEtd2Vha2VyLXEzLXBhbG0tb2lsLXByaWNlLWluZG9uZXNpYS1leHBvcnQtbGV2eS0yODMzNDc20gEA?oc=5
2022-07-25 04:48:00Z
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