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India raised applied tariffs on crude palm oil to 44% from 30% and on refined palm oil to 54% from 40%. Regional trade talks under RCEP have moved slowly, with the most recent round ending May 8 with little public information.
Higher Indian import duties reduce palm oil demand from the largest importer, which is bearish for palm prices, while uncertain RCEP progress limits the prospect of relief.
palmoilmonitor.orgKhalil Hegarty, Pierre Bois d’EnghienMay 22, 2018After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
