# Palm dips on sluggish export data, Indonesia’s lower export tax - Markets - Business Recorder

> 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.

- Date: 2022-10-17 · published 2022-10-17T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/15786-palm-dips-on-sluggish-export-data-indonesia-s-lower-export-tax-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The lower Indonesian export tax should attract buyers and add export competition, while weak Malaysian shipment data weighs on near-term palm prices.

## Read by commodity

- SBO: neutral
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40203506

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.