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Malaysia will keep its crude palm oil export tax at 8% for June 2024, and the June reference price falls to 3,956.06 ringgit ($845.13) per ton from 4,273.93 ringgit in May. The tax rate is set on a sliding scale from 3% to a maximum 8% above 3,450 ringgit per ton.
A lower reference price reflects softer palm oil values, and the unchanged tax keeps Malaysian export costs steady, so the main price signal is the modest decline in reference prices.
ukragroconsult.comMay 17, 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.
