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Malaysian plantation stocks rose on unconfirmed talk of a suspension of crude palm oil export tax. The Bursa plantation index gained 0.6 percent, near a two-month high, and analysts expected higher palm oil demand from China and a possible government announcement.
Speculation about an export tax suspension would make Malaysian palm oil more competitive and could lift export demand and prices if confirmed. The effect remains uncertain until the government acts.
asia.nikkei.comJan 4, 2018After 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.
Talk of the export tax suspension lifted plantation stocks and sentiment ahead of the confirmation, contributing to early-week price gains.
