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Malaysia reinstated a 5% crude palm oil export tax for May after a four-month suspension, applying to prices above RM2,250 per tonne. Analysts expect the tax and rising supply to weigh on CPO prices in the coming months, with the July contract trading near RM2,345.
A higher export tax discourages Malaysian exports and adds to stock build-up, which is bearish for palm oil prices and supportive of competing vegetable oil substitutes.
thestar.com.myHANIM ADNANMay 6, 2018After 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.
After 196 past neutral policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), 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.
