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Malaysia's plantations ministry has proposed cutting the windfall profit levy for Sabah and Sarawak from 3.0% to 1.5% in Budget 2024. The Malaysian Palm Oil Association had separately asked the government to raise the levy price thresholds by RM500 per ton and requested tax incentives.
The proposed rate cut would be a modest tax reduction for planters in Sabah and Sarawak, while the industry is seeking higher thresholds. The outcome depends on Budget 2024 and has no immediate effect on prices.
malaymail.comOct 3, 2023After 513 past neutral policy events, Palm Oil 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.
