Malaysia kept its crude palm oil export tax at 10% for May 2025 while lowering the monthly reference price to RM4,449.35 per ton from RM4,547.79 in April. The tax remains at the maximum rate because the reference price stays above the RM4,050 threshold.
An unchanged maximum tax keeps Malaysian export costs high, while the lower reference price reflects softer CPO international prices, a mildly bearish signal for palm oil.
After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% 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.