European Biodiesel Import Tariff Sentiment, Several CPO Issuer Shares Plunge

Starting today (August 14th), the European Union has imposed an 8-18% import duty on Indonesian biodiesel products. This tariff imposition has caused a correction in the share prices of several crude palm oil (CPO) issuers. Shares of PT Eagle High Plantations Tbk (BWPT) fell the most, dropping 4.52% to Rp 148 per share.

Shares of PT Dharma Satya Nusantara (DSNG) fell 4.37% to Rp 350 per share, while shares of PT Salim Ivomas Pratama Tbk (SIMP) fell 2.26% to Rp 346. Furthermore, PT Tunas Baru Lampung Tbk (TBLA) saw its share price fall by 1.11%, PT Sawit Sumbermas Sarana Tbk (SSMS) by 0.52%, and PP London Sumatra Indonesia Tbk (LSIP) by 0.4%.

Conversely, the biodiesel import duty did not negatively impact the share price movements of PT Sinar Mas Agro Resources and Tech Tbk (SMAR) and PT Astra Agro Lestari Tbk (AALI). SMAR's share price rose 0.53% to Rp 3,780 per share, while AALI's rose 0.9% to Rp 11,175 per share.

(Read Databoks: [Indonesia-Europe Trade War, How Much Biodiesel is Exported to Europe?](https://databoks.katadata.co.id/datapublish/2019/08/14/perang-dagang-indonesia-eropa-berapa-ekspor-biodiesel-ke-eropa))