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The Solvent Extractors' Association has asked the Indian government to raise import duties on refined palm oil from Malaysia after a surge in shipments from Southeast Asia. A palm oil expert says the current 45% duty is unlikely to change because of the Comprehensive Economic Cooperation Agreement between India and Malaysia.
The association's request was made by industry, not the government.
A higher Indian duty would cut import demand for Malaysian refined palm oil, which India takes in large volumes. The request is unlikely to be granted given the trade agreement, so the price effect is limited.
malaymail.comJul 24, 2019After 67 past neutral trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.1% to +1.3%), and +0.6% 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.
