date:Mar 17, 2016
te with US exports on the international market.
Palm oil vs soyoil
As an extra factor for vegetable oil investors to consider, Malaysia on Tuesday revealed that it is to raise its crude palm oil export tax to 5%, from the zero rate which has applied since May last year.
The tax is dependent on market prices, kicking in when a reference price tops 2,250 ringgit a tonne, and varying from 4.5-8.5%, depending by how large the gap to the reference level is.
Palm oil itself dropped 0.5% to 2,598 r