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Malaysia will cut its crude palm oil export duty to 5% in April from 6%, after palm prices fell below the reference price band during the first quarter. Weaker Indian demand and the coronavirus outbreak contributed to the price decline.
A lower export tax makes Malaysian CPO cheaper for overseas buyers, supporting export competitiveness but signalling weak domestic prices that feed through to palm oil markets.
biofuelsdigest.comMeghan SappMar 16, 2020After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
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.
