# VEGOILS-Palm oil slumps 4% on demand concerns, high export tax By Reuters

> Malaysian palm oil futures closed down 3.9% to 3,490 ringgit a tonne on February 18, hitting a one-week low, after Malaysia kept its March crude palm oil export tax at 8% but raised the reference price. Traders cited demand concerns for March and lower local prices in India, Pakistan and Bangladesh.

- Date: 2021-02-18 · published 2021-02-18T12:00:00.000Z
- Category: policy · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/48723-vegoils-palm-oil-slumps-4-on-demand-concerns-high-export-tax-by-reuters
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A higher export tax base and weaker destination demand reduce Malaysian export competitiveness, pressuring palm oil prices and adding to vegetable oil cost pressure for feed users.

## Read by commodity

- SBO: neutral
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-05-10 | [EXCLUSIVE: Exclusive: Malaysia may cut palm oil export tax by half amid global supply crisis \| Reuters](https://feedsoft.ai/events/15819-exclusive-exclusive-malaysia-may-cut-palm-oil-export-tax-by-half-amid-global.md) | -0.8% | +1.3% |
| PALMOIL | 2022-06-07 | [Indonesia to cut maximum palm oil export tax and levy to a combined $488/T -trade minister \| Reuters](https://feedsoft.ai/events/15811-indonesia-to-cut-maximum-palm-oil-export-tax-and-levy-to-a-combined-488-t-trade.md) | -7.4% | -35.7% |
| PALMOIL | 2022-05-20 | [Malaysia to reduce palm oil export tax, biodiesel mandate](https://feedsoft.ai/events/15820-malaysia-to-reduce-palm-oil-export-tax-biodiesel-mandate.md) | +2.6% | -7.0% |
| PALMOIL | 2022-05-19 | [Indonesia president declares end of palm oil export ban from Monday \| Reuters](https://feedsoft.ai/events/41501-indonesia-president-declares-end-of-palm-oil-export-ban-from-monday-reuters.md) | +1.4% | -7.4% |
| PALMOIL | 2019-02-01 | [Palm oil exporters back govt to retaliate on France, Norway and the EU's palm oil ban](https://feedsoft.ai/events/6969-palm-oil-exporters-back-govt-to-retaliate-on-france-norway-and-the-eu-s-palm.md) | +5.2% | -0.2% |
| SBO | 2022-05-10 | [EXCLUSIVE: Exclusive: Malaysia may cut palm oil export tax by half amid global supply crisis \| Reuters](https://feedsoft.ai/events/15819-exclusive-exclusive-malaysia-may-cut-palm-oil-export-tax-by-half-amid-global.md) | -2.7% | -5.5% |
| SBO | 2022-05-20 | [Malaysia to reduce palm oil export tax, biodiesel mandate](https://feedsoft.ai/events/15820-malaysia-to-reduce-palm-oil-export-tax-biodiesel-mandate.md) | -0.4% | -7.6% |
| SBO | 2021-08-27 | [Indonesia Sept crude palm oil export reference price, export tax set higher - Markets - Business Recorder](https://feedsoft.ai/events/45440-indonesia-sept-crude-palm-oil-export-reference-price-export-tax-set-higher.md) | -1.8% | -4.6% |

## Sources

- in.investing.com: https://in.investing.com/news/vegoilspalm-oil-slumps-4-on-demand-concerns-high-export-tax-2615338

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