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The Malaysian Palm Oil Association proposes three items for the 2020 budget to support the oil palm industry and about 650,000 smallholders. It asks that windfall tax collections be returned to the industry, that foreign worker intake be increased, and that property assessment tax be standardized.
The association also says the windfall tax has raised RM6-7 billion since 2008.
These are industry lobbying requests with no immediate supply or price effect. Higher foreign labor access could support long-run palm yields, but the outcome of the budget is uncertain.
malaymail.comSep 29, 2019After 1,570 past policy events, Palm Oil moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.5% over 20.
After 1,419 past policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
