Malaysian palm demand seen rising ahead of tax resumption

Malaysian crude palm oil demand is expected to pick up ahead of the export tax resumption as overseas buyers stock up before the zero-duty period ends in early April. The world’s second-largest palm oil producer set its April crude palm oil export tax at 5.0 per cent, after a three-month duty suspension implemented at the start of the year, a government circular showed on Thursday.

Palm oil slides as govt resumes export tax from April

Malaysian palm oil futures fell in early trade on Thursday after three straight sessions of gains, as the government announced a resumption of export tax on the tropical oil after a three-month suspension. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was down 0.5% at RM2,437 (US$623.43) a tonne at the midday break. Trading volumes stood at 36,068 lots of 25 tonnes each. The resumption of export tax weighed on palm futures, said a futures trader based in Kuala Lumpur.

EU scraps duty on most Argentina, Indonesia biodiesel — document

The European Union has removed duties on biodiesel imports for 13 Argentine and Indonesian producers following the end of legal proceedings at the European Court of Justice (ECJ), an EU document shows. The bloc set anti-dumping duties on imports of the renewable fuel from the two countries in 2013, but faced a series of legal challenges at the ECJ and the World Trade Organization. Both bodies have ruled against the measures.

Palm reverses losses to gain on Indonesia's biodiesel dispute win

Malaysian palm oil futures rose for a third consecutive session on Wednesday evening, reversing losses seen in early trade, as news that Indonesia had won an appeal against the European Union in a trade dispute over biodiesel lifted the market. The EU's highest court ruled that the bloc must eliminate anti-dumping duties on imports of Indonesian biodiesel products. Indonesia is one of the world's largest exporters of palm oil-based biodiesel. The tropical oil is used as feedstock to make the fuel substitute.

Malaysia has no plans to extend CPO export tax suspension: Mah

Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong speaks to reporters in Kuala Lumpur, reiterating government doesn’t plan to extend the suspension of crude palm oil (CPO) export tax beyond April 7.
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