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Malaysia raised its crude palm oil export duty to 6.5% for November from 6.0% in October, according to a government statement. Malaysia is the world's second-largest palm oil producer after Indonesia.
A higher export levy raises the cost of Malaysian palm oil in export markets and can pressure Malaysian futures. The effect on global palm prices depends on how the levy is passed through.
asia.nikkei.comOct 12, 2017After 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.
