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Malaysia kept its August 2024 crude palm oil export duty at 8%, the maximum rate. The government raised the August reference price to 3,880.86 ringgit per ton from 3,839.63 in July, as shown in a Malaysian Palm Oil Board circular.
The export duty is tied to the reference price, and a rate held at the 8% cap signals firm palm prices. Higher duties on Malaysian exports can shift demand toward Indonesia and weigh on Malaysian export competitiveness.
ukragroconsult.comJul 19, 2024After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
