# India’s lower import duty a boon to Malaysia’s palm oil

> India cut its import duty on crude palm oil from 35.75% to 30.25% for June 30 to September 30, 2021. Malaysia's palm oil board said Malaysian palm oil exports to India rose more than eightfold to 1.29 million tonnes in January to May 2021.

- Date: 2021-07-01 · published 2021-07-01T12:00:00.000Z
- Category: trade · region India · magnitude high
- Page: https://feedsoft.ai/events/45940-india-s-lower-import-duty-a-boon-to-malaysia-s-palm-oil
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower Indian import duties should boost demand for Malaysian and Indonesian palm oil during the third quarter, supporting palm prices. Stronger Indian buying also tightens palm supply available to other vegetable oil markets.

## Read by commodity

- SBO: neutral
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-04-14 | [India leans on Malaysia as palm oil imports pick up: SEAI](https://feedsoft.ai/events/47470-india-leans-on-malaysia-as-palm-oil-imports-pick-up-seai.md) | +3.9% | +15.3% |
| PALMOIL | 2021-09-08 | [India’s refiners seen to favour palm oil imports from Malaysia \| Malay Mail](https://feedsoft.ai/events/44945-india-s-refiners-seen-to-favour-palm-oil-imports-from-malaysia-malay-mail.md) | -1.0% | +7.4% |
| PALMOIL | 2019-01-01 | [India cuts tax on palm oil imports; Malaysia to gain most - CNBC TV18](https://feedsoft.ai/events/5585-india-cuts-tax-on-palm-oil-imports-malaysia-to-gain-most-cnbc-tv18.md) | +6.1% | +8.1% |
| PALMOIL | 2019-01-01 | [Malaysian palm oil futures open higher after India import tax cut \| The Star](https://feedsoft.ai/events/5586-malaysian-palm-oil-futures-open-higher-after-india-import-tax-cut-the-star.md) | +6.1% | +8.1% |
| PALMOIL | 2019-12-01 | [Malaysia signs palm oil export deal as India resumes purchases](https://feedsoft.ai/events/56153-malaysia-signs-palm-oil-export-deal-as-india-resumes-purchases.md) | +8.2% | +11.0% |
| SBO | 2018-05-31 | [Palm oil exports from Indonesia and Malaysia fell](https://feedsoft.ai/events/65117-palm-oil-exports-from-indonesia-and-malaysia-fell.md) | -2.6% | -7.8% |
| SBO | 2018-05-03 | [Malaysian palm oil price slides to 16-month low on weak demand \| The Star](https://feedsoft.ai/events/6612-malaysian-palm-oil-price-slides-to-16-month-low-on-weak-demand-the-star.md) | +1.6% | +2.5% |
| SBO | 2024-06-04 | [India Sees Surge in Palm Oil Imports Amid Price Correction \| Headlines](https://feedsoft.ai/events/8033-india-sees-surge-in-palm-oil-imports-amid-price-correction-headlines.md) | +0.5% | +4.7% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2021/07/01/indias-lower-import-duty-a-boon-to-malaysias-palm-oil/

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