# Palm slips 3.5pc on higher export tax reference price, weaker rivals - Markets - Business Recorder

> Malaysian palm oil futures fell 3.5% on May 19 to 4,300 ringgit a tonne, their biggest one-day percentage drop in seven weeks. The decline followed Malaysia's higher export tax reference price and weaker soyoil and crude oil prices.

- Date: 2021-05-19 · published 2021-05-19T12:00:00.000Z
- Category: policy · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/46979-palm-slips-3-5pc-on-higher-export-tax-reference-price-weaker-rivals-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A higher export tax reference price raises the cost of Malaysian exports, and weaker rival vegetable oils reduce competitive support for palm. Both factors point to softer palm and soyoil prices.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-02-02 | [Palm oil falls nearly 2% on weak Jan exports, higher Indian tax - Markets - Business Recorder](https://feedsoft.ai/events/48724-palm-oil-falls-nearly-2-on-weak-jan-exports-higher-indian-tax-markets-business.md) | -3.3% | +4.3% |
| PALMOIL | 2025-09-23 | [Palm oil drops 3% as Argentina lifts soyoil export tax - Markets - Business Recorder](https://feedsoft.ai/events/22951-palm-oil-drops-3-as-argentina-lifts-soyoil-export-tax-markets-business-recorder.md) | -0.4% | +0.9% |
| PALMOIL | 2022-08-02 | [Palm drops 5% for second day as Indonesia cuts reference price - Markets - Business Recorder](https://feedsoft.ai/events/40139-palm-drops-5-for-second-day-as-indonesia-cuts-reference-price-markets-business.md) | -1.3% | +0.7% |
| PALMOIL | 2023-05-15 | [Indonesia sets May 16-31 crude palm oil reference price at $893.23/t - Markets - Business Recorder](https://feedsoft.ai/events/15733-indonesia-sets-may-16-31-crude-palm-oil-reference-price-at-893-23-t-markets.md) | -2.2% | -9.8% |
| PALMOIL | 2022-09-15 | [Palm dips as stocks rise, Malaysia raises effective export tax - Markets - Business Recorder](https://feedsoft.ai/events/15789-palm-dips-as-stocks-rise-malaysia-raises-effective-export-tax-markets-business.md) | -1.4% | -6.5% |
| SBO | 2025-09-23 | [Palm oil drops 3% as Argentina lifts soyoil export tax - Markets - Business Recorder](https://feedsoft.ai/events/22951-palm-oil-drops-3-as-argentina-lifts-soyoil-export-tax-markets-business-recorder.md) | -0.0% | +4.0% |
| SBO | 2022-08-02 | [Palm drops 5% for second day as Indonesia cuts reference price - Markets - Business Recorder](https://feedsoft.ai/events/40139-palm-drops-5-for-second-day-as-indonesia-cuts-reference-price-markets-business.md) | +1.8% | +4.8% |
| SBO | 2026-01-19 | [Palm slips on China tariff cut, Indonesia B50 cancellation - Markets - Business Recorder](https://feedsoft.ai/events/21160-palm-slips-on-china-tariff-cut-indonesia-b50-cancellation-markets-business.md) | +1.7% | +6.7% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40093454

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