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India cut import taxes on crude and refined palm oil from ASEAN countries after a request from suppliers. Crude palm oil duty fell to 40 percent from 44 percent and refined to 50 percent from 54 percent, with Malaysian refined shipments taxed at 45 percent.
The cuts took effect on January 1, 2019.
The narrower duty gap with soyoil and sunflower oil is expected to raise palm oil imports from India in the coming months. This supports palm oil prices and weighs on competing soyoil.
business-standard.comReuters1 jan 2019
cnbctv18.comReuters1 jan 2019Na 133 eerdere opwaarts handel-gebeurtenissen bewoog Palmolie zich mediaan +0,7% over 5 sessies (64% hoger; middelste helft -0,8% tot +2,3%), en +1,7% over 20.
Na 152 eerdere neerwaarts handel-gebeurtenissen bewoog Sojaolie zich mediaan -0,2% over 5 sessies (47% hoger; middelste helft -2,1% tot +2,1%), en -0,1% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
India's duty cuts on crude (44% to 40%) and refined (54% to 50%) palm oil effective Jan 1 lower landed cost and raise import demand, the main trade catalyst for the rally.
The India duty cut on ASEAN palm oil effective Jan 1 (Malaysia benefiting most) lowers landed costs and boosts expected demand, which is the core trade-flow driver of the price jump.
