# Palm oil rises on Malaysia floods, higher Indonesian export tax - Markets - Business Recorder

> Malaysian palm oil futures rose on flood-related supply concerns in peninsular Malaysia and a higher Indonesian export tax and levy for December. Indonesia raised its CPO reference price to $1,071.67 per ton, lifting the export tax to $178 per ton from $124. Expected declines in November exports partly capped gains.

- Date: 2024-12-03 · published 2024-12-03T12:00:00.000Z
- Category: weather · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/27044-palm-oil-rises-on-malaysia-floods-higher-indonesian-export-tax-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Floods and Indonesian export tax increases both raise the effective cost of palm oil supply, supporting vegetable oil prices and feed fat costs.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-04-22 | [Malaysian palm oil up - Markets - Business Recorder](https://feedsoft.ai/events/15656-malaysian-palm-oil-up-markets-business-recorder.md) | -0.0% | -4.8% |
| PALMOIL | 2026-07-23 | [Malaysian palm oil closes higher on supply squeeze concerns - Markets - Business Recorder](https://feedsoft.ai/events/18444-malaysian-palm-oil-closes-higher-on-supply-squeeze-concerns-markets-business.md) | +0.4% | +4.5% |
| PALMOIL | 2021-01-04 | [Malaysian palm oil futures climb - Markets - Business Recorder](https://feedsoft.ai/events/5001-malaysian-palm-oil-futures-climb-markets-business-recorder.md) | +10.0% | -0.2% |
| PALMOIL | 2023-03-02 | [Palm ends at highest since Nov on flooding woes, weaker ringgit - Markets - Business Recorder](https://feedsoft.ai/events/36952-palm-ends-at-highest-since-nov-on-flooding-woes-weaker-ringgit-markets-business.md) | -0.0% | -5.3% |
| PALMOIL | 2023-06-02 | [Palm ends 3% higher on stronger rivals, El Nino worries - Markets - Business Recorder](https://feedsoft.ai/events/7324-palm-ends-3-higher-on-stronger-rivals-el-nino-worries-markets-business-recorder.md) | -0.1% | +7.1% |
| SBO | 2024-04-22 | [Malaysian palm oil up - Markets - Business Recorder](https://feedsoft.ai/events/15656-malaysian-palm-oil-up-markets-business-recorder.md) | +0.6% | +2.3% |
| SBO | 2026-07-23 | [Malaysian palm oil closes higher on supply squeeze concerns - Markets - Business Recorder](https://feedsoft.ai/events/18444-malaysian-palm-oil-closes-higher-on-supply-squeeze-concerns-markets-business.md) | -6.7% | -3.6% |
| SBO | 2021-01-04 | [Malaysian palm oil futures climb - Markets - Business Recorder](https://feedsoft.ai/events/5001-malaysian-palm-oil-futures-climb-markets-business-recorder.md) | +0.4% | +0.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40335649

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