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Malaysian traders plan to increase palm oil and related product imports from Indonesia by about 20,000 tonnes in March, to 60-70,000 tonnes in April if Indonesia cuts its export tax to around US$3 a tonne from US$18. Benchmark palm prices have eased about 10 percent from four-year highs in January to RM2,760 a tonne.
Lower Indonesian export taxes would boost Malaysian import demand and ease regional supply tightness, a mildly bearish factor for palm prices.
freemalaysiatoday.comReutersMar 24, 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.
