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Malaysian palm oil futures closed at a two-week high on Nov 18, with the February contract up 2.04% to 4,999 ringgit per tonne. Malaysia kept its December crude palm oil export tax at 8% and raised its reference price to 5,119.75 ringgit per tonne.
Steady export duty and tight spreads point to firm palm prices, which tend to lift soyoil and other vegetable oils. The move is a routine price gain without a major new supply shock.
brecorder.comReutersNov 18, 2021Not 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.
