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Malaysia kept its June 2023 crude palm oil export tax at the maximum 8% and raised the June reference price to RM4,144.31 per tonne from RM4,063.58 in May. The tax structure starts at 3% and reaches 8% when prices exceed RM3,450 per tonne.
A higher export tax and reference price can cut Malaysian export competitiveness and weigh on palm oil export demand. The effect on prices is modest because the rate was unchanged.
businesstoday.com.myMay 18, 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.
