# Malaysia to levy additional 1-ringgit tax on palm oil next year - Nikkei Asia

> Malaysia plans to levy an extra one ringgit per metric ton on crude palm oil produced from next year. The revenue would fund a proposed reforestation and wildlife conservation fund. The levy is part of efforts to promote sustainable palm plantations.

- Date: 2019-11-19 · published 2019-11-19T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/55945-malaysia-to-levy-additional-1-ringgit-tax-on-palm-oil-next-year-nikkei-asia
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The small added cost per tonne slightly raises production costs for Malaysian palm oil, a modest bearish factor for export competitiveness against other vegetable oils.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-10-12 | [Malaysia Raises Palm Oil Export Tax To 6.5% For November From 6.0% In October - Nikkei Asia](https://feedsoft.ai/events/68335-malaysia-raises-palm-oil-export-tax-to-6-5-for-november-from-6-0-in-october.md) | +0.9% | +4.1% |
| PALMOIL | 2022-10-07 | [Indonesia to extend export levy waiver on palm oil to year-end \| FEAG](https://feedsoft.ai/events/15782-indonesia-to-extend-export-levy-waiver-on-palm-oil-to-year-end-feag.md) | -1.3% | +14.9% |
| PALMOIL | 2019-08-27 | [Palm oil: Indonesia and Malaysia push back as EU clamps down - Nikkei Asia](https://feedsoft.ai/events/57462-palm-oil-indonesia-and-malaysia-push-back-as-eu-clamps-down-nikkei-asia.md) | -1.2% | +0.3% |
| PALMOIL | 2022-05-20 | [Malaysia to reduce palm oil export tax, biodiesel mandate](https://feedsoft.ai/events/15820-malaysia-to-reduce-palm-oil-export-tax-biodiesel-mandate.md) | +2.6% | -7.0% |
| PALMOIL | 2017-02-18 | [Malaysia raises tax on palm oil for March shipments – Customs Today Newspaper](https://feedsoft.ai/events/11858-malaysia-raises-tax-on-palm-oil-for-march-shipments-customs-today-newspaper.md) | -0.9% | -5.4% |

## Sources

- asia.nikkei.com: https://asia.nikkei.com/business/markets/commodities/malaysia-to-levy-additional-1-ringgit-tax-on-palm-oil-next-year

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