◂ Event Timeline

Apr 23, 2024POLICYMalaysia

Malaysia kept export duty on crude palm oil at 8% in May

Malaysia kept its crude palm oil export duty at 8% for May 2024 and raised the benchmark reference price to 4,273.93 ringgit per ton from 3,958.58 in April. The maximum rate applies when the price exceeds 3,450 ringgit per ton.

WHY IT MATTERS

A higher Malaysian reference price signals firmer export pricing ahead. The unchanged maximum duty means exporters continue to pay the top rate, which supports palm oil prices.

AFFECTSPALMOIL▲

SOURCE
ukragroconsult.comApr 23, 2024

Price reaction & history

PALMOIL▲bullishSO FAR1d +0.2%5d -0.1%20d -4.7%

After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.

Mar 23, 2023Malaysia keeps April crude palm oil export duty at 8%+0.2%
Jul 19, 2024Malaysia keeps August crude palm oil export duty at 8%-0.1%
Nov 24, 2023Malaysia keeps December crude palm oil export duty at 8.0%-0.7%
Sep 20, 2021Malaysia keeps Oct crude palm oil export tax at 8%+1.0%
Mar 17, 2021Malaysia maintains April crude palm oil export duty at 8% - Markets - Business Recorder-0.1%

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 ▸

——— · ·

Loading…