# Palm oil eases on profit-booking ahead of holiday - Markets - Business Recorder

> 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.

- Date: 2020-10-28 · published 2020-10-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/50510-palm-oil-eases-on-profit-booking-ahead-of-holiday-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

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.

## Read by commodity

- PALMOIL: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40029260

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