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Malaysia raised its crude palm oil export tax for January to 4.5% or 5% after a suspension, the first increase in about 1.5 years. The reference price for January is RM2,571.16 per tonne.
Malaysian benchmark futures rose about 1% to RM2,913 per tonne. Traders expect Indonesia may follow with its own export levy.
The export tax adds cost to Malaysian palm exports and may shift trade toward refined products and Indonesia. Expectations of an Indonesian levy keep palm oil prices supported.
businesstimes.com.sgDec 12, 2019After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
