# Malaysian palm oil futures open higher after India import tax cut | The Star

> Malaysian benchmark crude palm oil futures opened about 1 percent higher on January 2, 2019. The opening followed India's announcement of lower import duties on palm oil from Southeast Asia. March futures traded at 2,133 ringgit a tonne.

- Date: 2019-01-01 · published 2019-01-01T12:00:00.000Z
- Category: trade · region India · magnitude low
- Page: https://feedsoft.ai/events/5586-malaysian-palm-oil-futures-open-higher-after-india-import-tax-cut-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The opening move reflects India's tariff cut boosting expected palm oil import demand. The price gain is modest, so the effect on the market is limited.

## Read by commodity

- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2019-01-08 | 5 | +6.1% | 3.4 | Futures opened about 1% higher on the India tax cut news, showing immediate market reaction that started the multi-day gain. |
| PALMOIL | 2019-01-02 | 1 | +5.0% | 6.1 | Documents futures opening higher on the India tax cut news, confirming the sentiment and price reaction tied to the duty change. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2019-01-01 | [India cuts tax on palm oil imports; Malaysia to gain most - CNBC TV18](https://feedsoft.ai/events/5585-india-cuts-tax-on-palm-oil-imports-malaysia-to-gain-most-cnbc-tv18.md) | +6.1% | +8.1% |
| 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 | 2019-02-24 | [Indonesia asks India to cut palm oil tariffs \| The Star](https://feedsoft.ai/events/60458-indonesia-asks-india-to-cut-palm-oil-tariffs-the-star.md) | -3.4% | -5.6% |
| PALMOIL | 2020-05-08 | [Laman Web Rasmi KPK - PALM OIL: Malaysia's CPO price may stay higher if export to India is maintained](https://feedsoft.ai/events/6047-laman-web-rasmi-kpk-palm-oil-malaysia-s-cpo-price-may-stay-higher-if-export-to.md) | +2.8% | +21.2% |
| PALMOIL | 2021-12-02 | [India to favour Malaysian palm oil as Indonesian taxes rise \| FMT](https://feedsoft.ai/events/15862-india-to-favour-malaysian-palm-oil-as-indonesian-taxes-rise-fmt.md) | +2.6% | +1.2% |

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2019/01/02/malaysian-palm-oil-futures-open-higher-after-india-import-tax-cut/

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