# Palm oil prices up, negate import duty cut - The HinduBusinessLine

> Palm oil prices rose in Malaysia and Indonesia on June 30, offsetting India's customs duty cut on crude edible oils announced the previous night. India also removed refined palm oil imports from its restricted list, allowing them to enter freely. Bursa Malaysia palm futures closed near a three-week high.

- Date: 2021-06-30 · published 2021-06-30T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/46657-palm-oil-prices-up-negate-import-duty-cut-the-hindubusinessline
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

India's duty cut was meant to lower domestic edible oil prices, but higher producer-country prices absorb much of the benefit, keeping palm oil firm for importers. Demand from India is a key support for palm and rival vegetable oils.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2019-03-28 | [Indonesia, India palm groups to propose tax incentives to certified palm - The HinduBusinessLine](https://feedsoft.ai/events/59956-indonesia-india-palm-groups-to-propose-tax-incentives-to-certified-palm-the.md) | +1.7% | +1.0% |
| 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 | 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) | -3.8% | -0.3% |
| PALMOIL | 2021-07-01 | [India’s lower import duty a boon to Malaysia’s palm oil](https://feedsoft.ai/events/45940-india-s-lower-import-duty-a-boon-to-malaysia-s-palm-oil.md) | +1.7% | +9.8% |
| PALMOIL | 2023-01-04 | [India's palm oil imports in Dec jumps 94% YoY to record high for the month \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/9247-india-s-palm-oil-imports-in-dec-jumps-94-yoy-to-record-high-for-the-month.md) | -4.5% | -7.0% |
| SBO | 2025-02-26 | [Palm oil imports to hit 5-year low amid price shifts, rising output \| Industry News - Business Standard](https://feedsoft.ai/events/26147-palm-oil-imports-to-hit-5-year-low-amid-price-shifts-rising-output-industry.md) | -5.7% | -5.1% |
| SBO | 2025-01-16 | [Exclusive: India's palm oil imports to hit 5-year low in Jan on negative margins, sources say](https://feedsoft.ai/events/26605-exclusive-india-s-palm-oil-imports-to-hit-5-year-low-in-jan-on-negative-margins.md) | -0.5% | +2.2% |
| SBO | 2024-09-23 | [Exclusive: Indian refiners cancel palm oil contracts on duty hike, price rise \| Reuters](https://feedsoft.ai/events/28393-exclusive-indian-refiners-cancel-palm-oil-contracts-on-duty-hike-price-rise.md) | +2.1% | -0.7% |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/article35069129.ece

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