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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 de jan. de 2019
cnbctv18.comReuters1 de jan. de 2019Após 133 eventos altista de comércio passados, Óleo de palma subiu em mediana +0,7% em 5 sessões (64% de alta; metade central de -0,8% a +2,3%), e +1,7% em 20.
Após 152 eventos baixista de comércio passados, Óleo de soja subiu em mediana -0,2% em 5 sessões (47% de alta; metade central de -2,1% a +2,1%), e -0,1% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
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.
