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Feb
10

Malaysian palm oil exports expects to increase

After the suspension of export tax on crude palm oil, Palm oil export from Malaysia is expected to increase as government's move is expected to improve country's cpo exports competitiveness and give a short term boost to its exports to major importers like India and China and in result, mounting pressure on the stock would be reduced. The taxes removal, however, will end early if CPO stocks fall to 1.6 million tons. According to Malaysian Palm Oil Board, Malaysia's CPO export tax for January 2018 was 5.5 percent; Malaysia's stockpile in November 2017 stood at a two-year high of 2.56 million tons.