# India cuts tax on palm oil imports; Malaysia to gain most - CNBC TV18

> India cut import taxes on crude and refined palm oil from ASEAN countries after a request from suppliers. Crude palm oil duty fell to 40 percent from 44 percent and refined to 50 percent from 54 percent, with Malaysian refined shipments taxed at 45 percent. The cuts took effect on January 1, 2019.

- Date: 2019-01-01 · published 2019-01-01T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/5585-india-cuts-tax-on-palm-oil-imports-malaysia-to-gain-most-cnbc-tv18
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The narrower duty gap with soyoil and sunflower oil is expected to raise palm oil imports from India in the coming months. This supports palm oil prices and weighs on competing soyoil.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2019-01-02 | 1 | +5.0% | 6.1 | India's duty cuts on crude (44% to 40%) and refined (54% to 50%) palm oil effective Jan 1 lower landed cost and raise import demand, the main trade catalyst for the rally. |
| PALMOIL | 2019-01-08 | 5 | +6.1% | 3.4 | The India duty cut on ASEAN palm oil effective Jan 1 (Malaysia benefiting most) lowers landed costs and boosts expected demand, which is the core trade-flow driver of the price jump. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-07-01 | [India’s lower import duty a boon to Malaysia’s palm oil](https://feedsoft.ai/events/45940-india-s-lower-import-duty-a-boon-to-malaysia-s-palm-oil.md) | +1.7% | +9.8% |
| PALMOIL | 2021-04-14 | [India leans on Malaysia as palm oil imports pick up: SEAI](https://feedsoft.ai/events/47470-india-leans-on-malaysia-as-palm-oil-imports-pick-up-seai.md) | +3.9% | +15.3% |
| PALMOIL | 2019-01-02 | [Palm oil jumps over 2 percent to as India cuts import tax](https://feedsoft.ai/events/5584-palm-oil-jumps-over-2-percent-to-as-india-cuts-import-tax.md) | +6.1% | +8.1% |
| PALMOIL | 2021-09-08 | [India’s refiners seen to favour palm oil imports from Malaysia \| Malay Mail](https://feedsoft.ai/events/44945-india-s-refiners-seen-to-favour-palm-oil-imports-from-malaysia-malay-mail.md) | -1.0% | +7.4% |
| PALMOIL | 2019-01-01 | [Malaysian palm oil futures open higher after India import tax cut \| The Star](https://feedsoft.ai/events/5586-malaysian-palm-oil-futures-open-higher-after-india-import-tax-cut-the-star.md) | +6.1% | +8.1% |
| SBO | 2021-04-14 | [India leans on Malaysia as palm oil imports pick up: SEAI](https://feedsoft.ai/events/47470-india-leans-on-malaysia-as-palm-oil-imports-pick-up-seai.md) | +7.6% | +18.8% |
| SBO | 2019-01-01 | [India cuts tax on crude, refined palm oil imports from ASEAN countries - IBTimes India](https://feedsoft.ai/events/5589-india-cuts-tax-on-crude-refined-palm-oil-imports-from-asean-countries-ibtimes.md) | +2.3% | +10.4% |
| SBO | 2023-05-01 | [Palm oil drops to one-month low on dwindling Malaysian exports](https://feedsoft.ai/events/4382-palm-oil-drops-to-one-month-low-on-dwindling-malaysian-exports.md) | -1.0% | -8.8% |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/india-cuts-tax-on-palm-oil-imports-malaysia-to-gain-most-119010100254_1.html
- cnbctv18.com: https://www.cnbctv18.com/energy/india-cuts-tax-on-palm-oil-imports-malaysia-to-gain-most-1836881.htm

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