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Malaysia's Budget 2025 revised its crude palm oil export duty schedule, with rates from 8.5 percent to 10 percent for prices above RM3,600 per tonne, effective November 1, 2024. Glenauk Economics said the change would make Malaysian refining more competitive against Indonesia, but would not help the oleochemicals sector, which faces Indonesian competition.
The government said the move aims to secure domestic supply and boost downstream processing.
Higher export duties reduce the volume of Malaysian crude palm oil available for export, which tends to lift Malaysian domestic supply and weigh on the international price. The shift toward refined and downstream products changes how palm oil moves into world markets.
bernama.comOct 21, 2024After 400 past bearish policy events, Palm Oil 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.
