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Malaysia's crude palm oil export duty collected in the first five months of 2021 rose fivefold to RM564.82 million, compared with the same period last year, because of higher prices. The Plantation Industries and Commodities Ministry said the government is studying mechanisms to share the benefits of higher prices more widely.
Palm oil exports and export earnings are also reported to have increased.
This is a fiscal and income report reflecting prices already high, with no new supply or demand shock. It has little direct effect on near-term palm oil prices.
themalaysianreserve.comZukriAug 19, 2021After 66 past neutral report events, Palm Oil moved a median +0.2% over 5 sessions (58% higher; middle half -0.4% to +2.0%), and +2.2% 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.
