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Malaysia kept its April crude palm oil export duty at 8% but raised the reference price to 4,331.48 ringgit per tonne from 3,977.36 in March. The duty payable rises to 346.52 ringgit per tonne.
Analysts expect Indonesia to follow with a higher April export tax.
A higher reference price signals rising export values and reflects firm palm oil prices, supporting vegetable oil costs for feed buyers.
brecorder.comReutersMar 17, 2021After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
