Loading…
Felda Global Ventures (FGV) backed a proposal by Malaysia's Plantation Industries and Commodities Minister Mah Siew Keong to align Malaysia's crude palm oil export duty structure with Indonesia's. FGV said the mismatch has left Malaysian refiners without competitively priced CPO and has cost Malaysia market share.
The minister plans to raise the issue at the next Council of Palm Oil Producing Countries meeting in Jakarta.
A harmonised duty would narrow the US$15 to US$30 per tonne discount gap that has disadvantaged Malaysian palm oil, potentially restoring export competitiveness and supporting Malaysian palm oil prices.
nst.com.myOoi Tee ChingFeb 10, 2017After 548 past bullish policy events, Palm Oil 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.
