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Malaysian palm oil futures fell over 0.8% on Monday to 3,295 ringgit a tonne, tracking weaker Dalian and CBOT rival oils. Reports that Malaysia has no plans to extend its palm oil export tax exemption, which ends December 31, also weighed on prices.
Lower rival oil prices make palm less competitive for buyers, while ending the export tax exemption could raise Malaysian export costs. Net effect is modestly bearish for vegetable oils.
brecorder.comReutersNov 30, 2020Not enough comparable past events yet for a historical read.
Not 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.
