◂ Event Timeline

Jun 12, 2024POLICYMalaysia

Malaysia keeps July crude palm oil export duty at 8% - Markets

Malaysia kept its July 2024 crude palm oil export duty at 8%. The palm oil board also lowered the July reference price to 3,839.63 ringgit per ton from 3,956.06 ringgit in June.

WHY IT MATTERS

An unchanged top-rate duty with a lower reference price signals softer Malaysian export values, which is mildly bearish for palm oil and related vegetable oil prices.

AFFECTSPALMOIL▼

SOURCE
brecorder.comReutersJun 12, 2024

Price reaction & history

PALMOIL▼bearishSO FAR1d +0.7%5d -0.3%20d +0.8%

After 400 past bearish policy events, PALMOIL moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.

Jun 5, 2020Malaysia exempts palm oil from export duty - Business Recorder+1.7%
Sep 15, 2022Palm dips as stocks rise, Malaysia raises effective export tax - Markets - Business Recorder-1.4%
Sep 23, 2025Palm oil drops 3% as Argentina lifts soyoil export tax - Markets - Business Recorder-0.4%
May 15, 2023Indonesia sets May 16-31 crude palm oil reference price at $893.23/t - Markets - Business Recorder-2.2%
Aug 21, 2026Indonesia expects palm oil export levy collection to jump about 31pc - Markets - Business Recorder-0.4%

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.

PALMOIL · GP ▸

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