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India raised the tax on refined palm oil imports from Malaysia to 50% from 45% for six months to curb imports and boost domestic refining. Indian demand for Malaysian refined palm oil is expected to fall sharply in October, and Malaysian inventories could rise toward three million tonnes by December as buyers favour cheaper Indonesian CPO.
The duty hike shifts Indian demand toward Indonesian crude palm oil and builds Malaysian stocks, which pressures Malaysian palm oil prices lower.
malaysiakini.comReutersSep 6, 2019After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
