Malaysia CPO ends 1% higher as export duty lifted
Ram Gopal Yadav (7 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended over 1% higher after Malaysia, lifted the 5.5% export duty on the tropical oil. The most-active March contract of crude palm oil on the Malaysian bourse hit an over six-week high of 2,631 ringgits (41,732.63 rupees) per tn earlier, before settling at 2,627 ringgits, 1.3% higher from the previous close. The decision to suspend export duty was taken to reduce Malaysia’s palm oil stocks and strengthen prices. The country’s palm oil stocks were at a near two-year high of 2.56 mln tn at the end of November.