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India's Solvent Extractors' Association asks the government to add provisions to the ASEAN agreement limiting palm oil export duties. It cites Indonesia's $33 export duty plus $180 levy and reports that Malaysia may impose an 8% export duty from January 1, 2021.
The group argues the duties make Indian imports of crude palm oil costlier.
Higher export duties raise the landed cost of palm oil for India, the major importer, and encourage a shift toward cheaper oils. The lobbying effort itself is unlikely to change prices soon.
thehindubusinessline.comOur BureauDec 21, 2020After 67 past neutral trade events, PALMOIL moved a median +0.0% over 5 sessions (51% higher; middle half -1.1% to +1.3%), and +0.6% 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.
