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Malaysian palm oil futures fell 1.84% to 3,795 ringgit per tonne on Monday after gaining nearly 5% the previous Friday. Malaysian exports for October 1-15 were reported sluggish, with ITS showing a 4% drop while AmSpec showed a 1.9% gain.
Indonesia set its October 16-31 crude palm oil export tax at $3 per tonne, down from $33.
The lower Indonesian export tax should attract buyers and add export competition, while weak Malaysian shipment data weighs on near-term palm prices.
brecorder.comReutersOct 17, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
