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Malaysian Primary Industries Minister Teresa Kok urged exporters to use a seven-month extension of the zero export duty on crude palm oil starting May 1, 2019. She said the government aims to reduce palm oil stocks, which stood at 2.92 million tonnes on March 31, and lift CPO prices.
The duty exemption encourages exports that could draw down high Malaysian stocks, which is mildly supportive for palm oil prices if the export pickup materializes.
nst.com.myBernamaMay 2, 2019After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
