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Malaysia's palm oil regulator MPOB said CPTPP ratification will reduce tariffs on palm oil into Canada, Mexico and Peru. It also reported that 2022 exports rose 1.3% January through November, and that crude palm oil prices are expected to fall to 3,800 ringgit next year.
Tariff cuts in CPTPP markets could lift Malaysian palm export demand at the margin. The forecast for lower 2023 prices signals softer market expectations.
freemalaysiatoday.comDavid PillaiDec 30, 2022After 67 past neutral trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.1% to +1.3%), and +0.6% 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.
