# Crude palm oil rises to high of RM3,330 | The Star

> 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.

- Date: 2020-12-01 · published 2020-12-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/49759-crude-palm-oil-rises-to-high-of-rm3-330-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

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.

## Read by commodity

- PALMOIL: bullish ▲

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2020/12/01/crude-palm-oil-rises-to-high-of-rm3330

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