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Crude palm oil futures for third-month delivery reached a high of 3,330 ringgit on December 1. Traders cited India's cut in import levies on crude palm oil as supportive, while Malaysia's planned end to its export tax exemption and weaker exports limited gains.
Prices had rallied about 10% in November to near eight-year highs.
India's lower import duty supports demand from a key buyer, while Malaysia's tax change could slow exports and cap prices. Net, the market is trading in a choppy range pending fresh supply data.
thestar.com.myThe Star OnlineDec 1, 2020Not enough comparable past events yet for a historical read.
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.
