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Malaysia's finance ministry said it will not abolish the windfall profit levy on palm oil, which applies a 3% rate to prices above RM3,000 per ton in Peninsular Malaysia and RM3,500 per ton in Sabah and Sarawak. The ministry said it would periodically review the rate and threshold, and the plantations ministry is reviewing the tax with completion targeted for next year.
Keeping the levy preserves a cost burden on planters, which could slightly constrain output growth over time. The near-term impact on palm oil prices is limited because no rate change has been made.
businesstimes.com.sgOct 27, 2023After 513 past neutral policy events, PALMOIL moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% 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.
