Palm oil Advanced ahead of Imposition of Tax in Malaysia

Note: This section contains information in English only.
Source: Bloomberg
Palm oil appreciated on Malaysia, the second-largest supplier after Indonesia, may increase exports in February before imposition of a tax in March. April-delivery palm oil advanced 1.5% to 2,519 ringgit ($813) a metric ton in Malaysia. Last week palm oil futures fell 3% to 2,483 ringgit a metric ton, the weakest level at close since January 29. The tax of 4.5% on exports will be imposed in March, while currently shipments are allowed with 0% tax, the same tax in Indonesia was set at 9% in February.
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