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Malaysian palm oil futures for January delivery fell 0.46% to 3,051 ringgit a tonne on profit-taking ahead of a holiday, after a one-month high earlier in the week. Indonesia set its November crude palm oil export tax at $3 a tonne, unchanged from October, and is expected to announce a new levy structure that could rise to $120-122.50 a tonne.
A likely sharp increase in Indonesia's export levy would curb exports and support Asian palm oil prices, while EU palm imports were up 3% year on year, adding modest demand support.
brecorder.comReutersOct 28, 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.
