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India's Solvent Extractors' Association says India is likely to buy more Malaysian palm oil after Indonesia's export taxes hit record highs. Indonesia's share of India's palm oil imports fell to 55% in January-September, while Malaysia's rose to 45%.
India also cut base import duties on palm, soy and sunflower oils in September.
Shifting Indian demand toward Malaysian palm oil supports Malaysian prices and widens Indonesia's export discount. High Indonesian levies keep the cost of its palm oil elevated for buyers.
staging-beta.freemalaysiatoday.comFMT ReportersDec 2, 2021After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% 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.
